GBP/CAD - 1H - Technical analysis published on 06/26/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
56%
33%
My opinion
Bearish under 1.6764 CAD
My targets
1.6605 CAD (-0.0119)
1.6470 CAD (-0.0254)
My analysis
The bearish trend is currently very strong for GBP/CAD. As long as the price remains below the resistance at 1.6764 CAD, you could try to take advantage of the bearish rally. The first bearish objective is located at 1.6605 CAD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.6470 CAD as an objective. Crossing it would then enable sellers to target 1.6095 CAD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.5
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This analysis was given by sander. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/CAD price is 1.6724 CAD. On the day, this instrument lost -0.22% and was traded between 1.6697 CAD and 1.6782 CAD over the period. The price is currently at +0.16% from its lowest and -0.35% from its highest.1.6697
1.6782
1.6724
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
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 LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GBP/CAD chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 10 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.5337 | 1.5876 | 1.6095 | 1.6724 | 1.6740 | 1.6764 | 1.6873 |
| Change (%) | -8.29% | -5.07% | -3.76% | - | +0.10% | +0.24% | +0.89% |
| Change | -0.1387 | -0.0848 | -0.0629 | - | +0.0016 | +0.0040 | +0.0149 |
| Level | Minor | Major | Major | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6630 | 1.6685 | 1.6723 | 1.6778 | 1.6816 | 1.6871 | 1.6909 |
| Camarilla | 1.6735 | 1.6744 | 1.6753 | 1.6761 | 1.6770 | 1.6778 | 1.6787 |
| Woodie | 1.6622 | 1.6681 | 1.6715 | 1.6774 | 1.6808 | 1.6867 | 1.6901 |
| Fibonacci | 1.6685 | 1.6721 | 1.6743 | 1.6778 | 1.6814 | 1.6836 | 1.6871 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6470 | 1.6605 | 1.6683 | 1.6818 | 1.6896 | 1.7031 | 1.7109 |
| Camarilla | 1.6702 | 1.6722 | 1.6742 | 1.6761 | 1.6781 | 1.6800 | 1.6820 |
| Woodie | 1.6442 | 1.6591 | 1.6655 | 1.6804 | 1.6868 | 1.7017 | 1.7081 |
| Fibonacci | 1.6605 | 1.6686 | 1.6737 | 1.6818 | 1.6899 | 1.6950 | 1.7031 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 41.71 | |
| MACD (12,26,9): | -0.0012 | |
| Directional Movement: | -13.0787 | |
| AROON (14): | -14.2857 | |
| DEMA (21): | 1.6717 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.6751 | |
| Elder Ray (13): | -0.0007 | |
| Super Trend (3,10): | 1.6779 | |
| Zig ZAG (10): | 1.6715 | |
| VORTEX (21): | 0.8991 | |
| Stochastique (14,3,5): | 25.88 | |
| TEMA (21): | 1.6713 | |
| Williams %R (14): | -80.00 | |
| Chande Momentum Oscillator (20): | -0.0024 | |
| Repulse (5,40,3): | -0.0300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0096 | |
| Courbe Coppock: | 0.39 |
| MA7: | 1.6822 | |
| MA20: | 1.6797 | |
| MA50: | 1.6839 | |
| MA100: | 1.6679 | |
| MAexp7: | 1.6722 | |
| MAexp20: | 1.6732 | |
| MAexp50: | 1.6753 | |
| MAexp100: | 1.6779 | |
| Price / MA7: | -0.58% | |
| Price / MA20: | -0.43% | |
| Price / MA50: | -0.68% | |
| Price / MA100: | +0.27% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | -0.05% | |
| Price / MAexp50: | -0.17% | |
| Price / MAexp100: | -0.33% |
Quotes :
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Real time data
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Forex
News
Don't forget to follow the news on GBP/CAD. At the time of publication of this analysis, the latest news 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.
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