GBPCAD Down 0 Pips in Last Hour, Moves Up For the 4th Day In A Row; in a Downtrend Over Past 30 Days
Volatility for gbpcad has been contracting over the past two weeks relative to volatility over the past month.
GBPCAD
(Last Updated March 16, 2021)
Welcome to the news page for GBPCAD (GBPCAD). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for GBPCAD
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Canada Inflation Rate MoM | Feb 2021 | Canadian Dollar | CAD | 2021-03-17 | 12:30 GMT | 0.7% | |
| Canada Core Inflation Rate YoY | Feb 2021 | Canadian Dollar | CAD | 2021-03-17 | 12:30 GMT | ||
| Canada Inflation Rate YoY | Feb 2021 | Canadian Dollar | CAD | 2021-03-17 | 12:30 GMT | 1.3% | |
| United Kingdom BoE Interest Rate Decision | 2021 | British Pound | GBP | 2021-03-18 | 12:00 GMT | 0.1% | |
| United Kingdom BoE MPC Vote Cut | NA | British Pound | GBP | 2021-03-18 | 12:00 GMT | 0/9 |
The Trend
As for trends on GBPCAD, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 and 30 day timeframes. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.
GBPCAD Moving Averages
GBPCAD’s moving averages suggest the trend on a number of time horizons is bullish. Moreover, today we saw the 20 moving average turn bullish.
Below is a chart showing GBPCAD’s price with its moving averages.
In terms of correlations over the past week for GBPCAD, it has demonstrated the strongest correlation with GBPUSD. Over the past 14 days, however, the asset showing the strongest correlation to GBPCAD is USDJPY. Alternatively, EURCHF has been the asset least correlated with GBPCAD — but over the past two weeks, AUDNZD has been the asset least correlated with GBPCAD. The chart below illustrates GBPCAD against its least correlated assets.
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The View From the Weekly Timeframe
At the time of this writing, GBPCAD’s rate is up 51 pips (0.29%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as GBPCAD has now gone up 4 of the past 5 weeks. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on GBPCAD. Given that we see an uptrend on the 20 and 10 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. GBPCAD’s weekly price action over the past 52 weeks can be seen via the chart below.
GBPCAD: The Monthly View
Strongest trend on the 24 month timeframe.
GBPCAD Up 3 Pips in Last Hour, Entered Today Up For the 3rd Straight Day; Pin Bar Pattern Appearing on Chart
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
GBPCAD Up 5 Pips Over Past Hour, 4 Day Down Streak Ended; Pin Bar Pattern Appearing on Chart
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
GBPCAD Up 5 Pips Over Past Hour, Entered Today Down For the 4th Consecutive Day; in a Downtrend Over Past 30 Days
This move is a reversal from the hour prior, which saw price move down.
GBPCAD Up 3 Pips Over Past Hour, Came Into Today Down For the 3rd Day In A Row; is Inching Close to 100 and 200 Day Averages
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
GBPCAD Down 15 Pips On Hourly Chart, Breaks Below 100 Day Average; in a Downtrend Over Past 14 Days
Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up.
GBPCAD Up 7 Pips Over Past Hour, 2 Day Up Streak Ended; Nears 100 Day Moving Average
Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
GBPCAD Down 3 Pips On Hourly Chart, 3 Day Down Streak Broken; in a Downtrend Over Past 14 Days
Relative to other instruments in the forex asset class, gbpcad ranked 12th yesterday in terms of percentage price change.
GBPCAD Down 2 Pips Over Past Hour, Moves Down For the 3rd Consecutive Day; Eyes 50 Day Average
Interestingly, a trend in the other direction exists on the 90 and 30 day timeframes, where price is headed up.
GBPCAD Up 4 Pips Over Past Hour, 2 Day Up Streak Broken; Breaks Below 20 Day Average
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.