GBP/CAD - 1H - Technical analysis published on 03/02/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
22%
44%
33%
My opinion
Bearish under 1.6354 CAD
My targets
1.6287 CAD (-0.0050)
1.6234 CAD (-0.0103)
My analysis
GBP/CAD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 1.6354 CAD. The next support located at 1.6287 CAD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 1.6234 CAD. Below this support, sellers could then target 1.6145 CAD.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
4.3
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This analysis was given by nwbrown2. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/CAD rating 1.6337 CAD. On the day, this instrument lost -0.05% and was between 1.6334 CAD and 1.6354 CAD. This implies that the price is at +0.02% from its lowest and at -0.10% from its highest.1.6334
1.6354
1.6337
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of GBP/CAD indicates that the overall trend is bearish. The signals given by moving averages are 67.86% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Other results related to technical indicators were also found by the Central Indicators scanner:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of channel
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.6234 | 1.6287 | 1.6325 | 1.6337 | 1.6354 | 1.6383 | 1.6444 |
| Change (%) | -0.63% | -0.31% | -0.07% | - | +0.10% | +0.28% | +0.65% |
| Change | -0.0103 | -0.0050 | -0.0012 | - | +0.0017 | +0.0046 | +0.0107 |
| Level | Intermediate | Minor | Major | - | Minor | Intermediate | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6176 | 1.6250 | 1.6297 | 1.6371 | 1.6418 | 1.6492 | 1.6539 |
| Camarilla | 1.6312 | 1.6323 | 1.6334 | 1.6345 | 1.6356 | 1.6367 | 1.6378 |
| Woodie | 1.6164 | 1.6243 | 1.6285 | 1.6364 | 1.6406 | 1.6485 | 1.6527 |
| Fibonacci | 1.6250 | 1.6296 | 1.6324 | 1.6371 | 1.6417 | 1.6445 | 1.6492 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.5892 | 1.6031 | 1.6143 | 1.6282 | 1.6394 | 1.6533 | 1.6645 |
| Camarilla | 1.6187 | 1.6210 | 1.6233 | 1.6256 | 1.6279 | 1.6302 | 1.6325 |
| Woodie | 1.5880 | 1.6024 | 1.6131 | 1.6275 | 1.6382 | 1.6526 | 1.6633 |
| Fibonacci | 1.6031 | 1.6127 | 1.6186 | 1.6282 | 1.6378 | 1.6437 | 1.6533 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.5711 | 1.5894 | 1.6157 | 1.6340 | 1.6603 | 1.6786 | 1.7049 |
| Camarilla | 1.6297 | 1.6338 | 1.6379 | 1.6420 | 1.6461 | 1.6502 | 1.6543 |
| Woodie | 1.5751 | 1.5914 | 1.6197 | 1.6360 | 1.6643 | 1.6806 | 1.7089 |
| Fibonacci | 1.5894 | 1.6064 | 1.6170 | 1.6340 | 1.6510 | 1.6616 | 1.6786 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 40.41 | |
| MACD (12,26,9): | -0.0015 | |
| Directional Movement: | -3.4266 | |
| AROON (14): | -7.1429 | |
| DEMA (21): | 1.6339 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.6389 | |
| Elder Ray (13): | -0.0010 | |
| Super Trend (3,10): | 1.6400 | |
| Zig ZAG (10): | 1.6339 | |
| VORTEX (21): | 0.8962 | |
| Stochastique (14,3,5): | 21.84 | |
| TEMA (21): | 1.6328 | |
| Williams %R (14): | -75.41 | |
| Chande Momentum Oscillator (20): | -0.0024 | |
| Repulse (5,40,3): | -0.0420 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0140 | |
| Courbe Coppock: | 0.41 |
| MA7: | 1.6332 | |
| MA20: | 1.6245 | |
| MA50: | 1.6342 | |
| MA100: | 1.6173 | |
| MAexp7: | 1.6342 | |
| MAexp20: | 1.6358 | |
| MAexp50: | 1.6368 | |
| MAexp100: | 1.6351 | |
| Price / MA7: | +0.03% | |
| Price / MA20: | +0.57% | |
| Price / MA50: | -0.03% | |
| Price / MA100: | +1.01% | |
| Price / MAexp7: | -0.03% | |
| Price / MAexp20: | -0.13% | |
| Price / MAexp50: | -0.19% | |
| Price / MAexp100: | -0.09% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on GBP/CAD at the time of the analysis were as follows:
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GBPCAD Sports a Trend That Belies Uncertainty and High Risk of Volatility (Quick Take Video)
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Webinar: Central Bank Weekly: GBP, CAD Rebound as BOE, BOC Rate Hike Odds Rise: 7/5/18
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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.
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