GBP/CAD - 1H - Technical analysis published on 06/16/2023 (GMT)
- 110
- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 1.6873 CAD
My targets
1.7043 CAD (+0.0105)
1.7131 CAD (+0.0193)
My analysis
The bullish trend is currently very strong on GBP/CAD. As long as the price remains above the support at 1.6873 CAD, you could try to benefit from the boom. The first bullish objective is located at 1.7043 CAD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.7131 CAD as an objective. Crossing it would then enable buyers to target 1.7801 CAD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
9.1
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by murathime. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/CAD price is 1.6938 CAD. The price registered an increase of +0.19% on the session and was between 1.6902 CAD and 1.6939 CAD. This implies that the price is at +0.21% from its lowest and at -0.01% from its highest.1.6902
1.6939
1.6938
Here is a more detailed summary of the historical variations registered by GBP/CAD:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of GBP/CAD in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.6703 | 1.6801 | 1.6873 | 1.6938 | 1.7131 | 1.7801 | 1.9170 |
| Change (%) | -1.39% | -0.81% | -0.38% | - | +1.14% | +5.10% | +13.18% |
| Change | -0.0235 | -0.0137 | -0.0065 | - | +0.0193 | +0.0863 | +0.2232 |
| Level | Minor | Major | Major | - | Intermediate | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6798 | 1.6821 | 1.6864 | 1.6887 | 1.6930 | 1.6953 | 1.6996 |
| Camarilla | 1.6888 | 1.6894 | 1.6900 | 1.6906 | 1.6912 | 1.6918 | 1.6924 |
| Woodie | 1.6807 | 1.6826 | 1.6873 | 1.6892 | 1.6939 | 1.6958 | 1.7005 |
| Fibonacci | 1.6821 | 1.6847 | 1.6862 | 1.6887 | 1.6913 | 1.6928 | 1.6953 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6467 | 1.6539 | 1.6659 | 1.6731 | 1.6851 | 1.6923 | 1.7043 |
| Camarilla | 1.6726 | 1.6744 | 1.6761 | 1.6779 | 1.6797 | 1.6814 | 1.6832 |
| Woodie | 1.6491 | 1.6551 | 1.6683 | 1.6743 | 1.6875 | 1.6935 | 1.7067 |
| Fibonacci | 1.6539 | 1.6612 | 1.6658 | 1.6731 | 1.6804 | 1.6850 | 1.6923 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6252 | 1.6484 | 1.6683 | 1.6915 | 1.7114 | 1.7346 | 1.7545 |
| Camarilla | 1.6765 | 1.6804 | 1.6844 | 1.6883 | 1.6923 | 1.6962 | 1.7002 |
| Woodie | 1.6237 | 1.6476 | 1.6668 | 1.6907 | 1.7099 | 1.7338 | 1.7530 |
| Fibonacci | 1.6484 | 1.6648 | 1.6750 | 1.6915 | 1.7079 | 1.7181 | 1.7346 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 70.97 | |
| MACD (12,26,9): | 0.0015 | |
| Directional Movement: | 19.5128 | |
| AROON (14): | 78.5714 | |
| DEMA (21): | 1.6920 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.6889 | |
| Elder Ray (13): | 0.0016 | |
| Super Trend (3,10): | 1.6876 | |
| Zig ZAG (10): | 1.6936 | |
| VORTEX (21): | 1.1275 | |
| Stochastique (14,3,5): | 97.03 | |
| TEMA (21): | 1.6921 | |
| Williams %R (14): | -3.51 | |
| Chande Momentum Oscillator (20): | 0.0051 | |
| Repulse (5,40,3): | 0.2142 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0115 | |
| Courbe Coppock: | 0.35 |
| MA7: | 1.6829 | |
| MA20: | 1.6795 | |
| MA50: | 1.6826 | |
| MA100: | 1.6651 | |
| MAexp7: | 1.6916 | |
| MAexp20: | 1.6900 | |
| MAexp50: | 1.6870 | |
| MAexp100: | 1.6832 | |
| Price / MA7: | +0.65% | |
| Price / MA20: | +0.85% | |
| Price / MA50: | +0.67% | |
| Price / MA100: | +1.72% | |
| Price / MAexp7: | +0.14% | |
| Price / MAexp20: | +0.23% | |
| Price / MAexp50: | +0.41% | |
| Price / MAexp100: | +0.64% |
Quotes :
-
Real time data
-
Forex
News
The last news published on GBP/CAD at the time of the generation of this analysis was as follows:
-
GBPCAD Sports a Trend That Belies Uncertainty and High Risk of Volatility (Quick Take Video)
-
Webinar: Central Bank Weekly: GBP, CAD Rebound as BOE, BOC Rate Hike Odds Rise: 7/5/18
-
Why I'm looking to buy GBPCAD: Coleman
-
Oil & Brexit GBP CAD
-
Webinar: Price Action Setups GBP, CAD, DXY
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis GBP/CAD - 1H