GBPCAD Down 1 Pips in Last Hour, Moves Down For the 3rd Day In A Row; Doji and Pin Bar Patterns Appearing on Chart
It’s been a feast for bears operating on an hourly timeframe, as gbpcad has now gone down 4 of the past 5 hours.
GBPCAD
(Last Updated January 23, 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 |
|---|---|---|---|---|---|---|---|
| United Kingdom Employment Change | Oct 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | -100K | |
| United Kingdom Average Earnings excl. Bonus | Nov 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | 3.1% | |
| United Kingdom Average Earnings incl. Bonus | Nov 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | 2.9% | |
| United Kingdom Claimant Count Change | Dec 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | ||
| United Kingdom Unemployment Rate | Nov 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | 5.1% |
The Trend
On GBPCAD, there is currently an uptrend on the 90 and 30 day timeframes.
GBPCAD Moving Averages
GBPCAD’s moving averages tell a multi-facted story about its trend. The 20 and 50 day averages are pointing upwards, suggesting a bullish trend, while the 100 and 200 day averages are pointing downward, suggesting a bearish trend on those timeframes. This implies that the long-term trend — meaning going back over 3 months — is bearish, while the trend over the past month and a half is bullish. Moreover, today we saw the 20 moving average turn bullish.
The chart below illustrates.
Regarding GBPCAD’s correlations over the past 7 days, it has been most correlated with EURCAD. If we zoom out to a two week basis, though, the asset showing the strongest correlation to GBPCAD is GBPAUD. On the flip side, USDTRY has been the asset least correlated with GBPCAD — but over the past two weeks, USDJPY has been the asset least correlated with GBPCAD. See the chart below to observe the recent price action in GBPCAD versus those of assets it hasn’t been well correlated with.
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The View From the Weekly Timeframe
Currently, GBPCAD’s rate is up 53 pips (0.31%) 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 pin bar candlestick pattern on GBPCAD. Given that we see an uptrend on the 20 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. The weekly chart below shows GBPCAD’s price action over the past year.
GBPCAD: The Monthly View
Monthly outlook: choppy. Clear trends not visible on the 24, 60 and 120 month timeframes.
GBPCAD Up 2 Pips in Last Hour, 3 Day Up Streak Snapped; Price Base in Formation Over Past 30 Days
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 4 Pips On Hourly Chart, 3 Day Up Streak Ended; Price Base in Formation Over Past 30 Days
This is the 2nd straight hour gbpcad has seen its price head down.
GBPCAD Down 3 Pips On Hourly Chart; Entered Today Up For the 3rd Consecutive Day
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 11 Pips Over Past Hour; Moves Up For the 3rd Day In A Row
Compared to its peers in the forex, gbpcad gave its buyers a return that ranked 15th in terms of percentage change since the previous day.
GBPCAD Up 10 Pips On Hourly Chart, Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 14 Days
It should be noted, though, the 20 and 100 day simple moving averages turned upwards, which may be a bullish sign.
GBPCAD Up 1 Pips in Last Hour; Nears 50 Day Moving Average
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
GBPCAD Up 4 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; Eyes 20, 50, 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 35 Pips in Last Hour, Moves Up For the 2nd Straight Day; Price Base in Formation Over Past 90 Days
Compared to its peers in the forex, gbpcad gave its buyers a return that ranked 12th in terms of percentage change since yesterday.
GBPCAD Up 9 Pips On Hourly Chart, Came Into Today Up For the 2nd Consecutive Day; in an Uptrend Over Past 14 Days
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.