GBP/CAD - Daily - Technical analysis published on 09/18/2023 (GMT)
- 91
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
11%
72%
17%
My opinion
Bearish under 1.6882 CAD
My targets
1.6372 CAD (-0.0360)
1.6255 CAD (-0.0477)
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 1.6882 CAD. The next support located at 1.6372 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 1.6255 CAD. Below this support, sellers could then target 1.6095 CAD.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
6.6
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 tiankriek. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/CAD rating 1.6732 CAD. On the day, this instrument lost -0.09% and was between 1.6716 CAD and 1.6766 CAD. This implies that the price is at +0.10% from its lowest and at -0.20% from its highest.1.6716
1.6766
1.6732
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
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
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of GBP/CAD indicates that the overall trend is bearish. 78.57% of the signals given by moving averages are bearish. This bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Moving Average bearish crossovers : AMA20 & AMA50
Type : Bearish
Timeframe : Daily
An assessment of technical indicators shows a strong bearish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : Daily
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.6255 | 1.6372 | 1.6682 | 1.6732 | 1.6882 | 1.6996 | 1.7109 |
| Change (%) | -2.85% | -2.15% | -0.30% | - | +0.90% | +1.58% | +2.25% |
| Change | -0.0477 | -0.0360 | -0.0050 | - | +0.0150 | +0.0264 | +0.0377 |
| Level | Minor | Intermediate | Major | - | Major | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6635 | 1.6684 | 1.6715 | 1.6764 | 1.6795 | 1.6844 | 1.6875 |
| Camarilla | 1.6725 | 1.6732 | 1.6740 | 1.6747 | 1.6754 | 1.6762 | 1.6769 |
| Woodie | 1.6627 | 1.6680 | 1.6707 | 1.6760 | 1.6787 | 1.6840 | 1.6867 |
| Fibonacci | 1.6684 | 1.6714 | 1.6733 | 1.6764 | 1.6794 | 1.6813 | 1.6844 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6315 | 1.6524 | 1.6635 | 1.6844 | 1.6955 | 1.7164 | 1.7275 |
| Camarilla | 1.6659 | 1.6688 | 1.6718 | 1.6747 | 1.6776 | 1.6806 | 1.6835 |
| Woodie | 1.6267 | 1.6500 | 1.6587 | 1.6820 | 1.6907 | 1.7140 | 1.7227 |
| Fibonacci | 1.6524 | 1.6646 | 1.6721 | 1.6844 | 1.6966 | 1.7041 | 1.7164 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6450 | 1.6662 | 1.6891 | 1.7103 | 1.7332 | 1.7544 | 1.7773 |
| Camarilla | 1.6999 | 1.7039 | 1.7080 | 1.7120 | 1.7160 | 1.7201 | 1.7241 |
| Woodie | 1.6459 | 1.6666 | 1.6900 | 1.7107 | 1.7341 | 1.7548 | 1.7782 |
| Fibonacci | 1.6662 | 1.6831 | 1.6935 | 1.7103 | 1.7272 | 1.7376 | 1.7544 |
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): | 27.62 | |
| MACD (12,26,9): | -0.0081 | |
| Directional Movement: | -18.0313 | |
| AROON (14): | -92.8571 | |
| DEMA (21): | 1.6904 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.6940 | |
| Elder Ray (13): | -0.0194 | |
| Super Trend (3,10): | 1.7051 | |
| Zig ZAG (10): | 1.6730 | |
| VORTEX (21): | 0.7779 | |
| Stochastique (14,3,5): | 3.03 | |
| TEMA (21): | 1.6809 | |
| Williams %R (14): | -97.37 | |
| Chande Momentum Oscillator (20): | -0.0390 | |
| Repulse (5,40,3): | -1.0254 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0256 | |
| Courbe Coppock: | 3.43 |
| MA7: | 1.6869 | |
| MA20: | 1.7045 | |
| MA50: | 1.7070 | |
| MA100: | 1.6955 | |
| MAexp7: | 1.6851 | |
| MAexp20: | 1.6985 | |
| MAexp50: | 1.7014 | |
| MAexp100: | 1.6927 | |
| Price / MA7: | -0.81% | |
| Price / MA20: | -1.84% | |
| Price / MA50: | -1.98% | |
| Price / MA100: | -1.32% | |
| Price / MAexp7: | -0.71% | |
| Price / MAexp20: | -1.49% | |
| Price / MAexp50: | -1.66% | |
| Price / MAexp100: | -1.15% |
Quotes :
-
Real time data
-
Forex
News
The latest news and videos published on GBP/CAD at the time of the analysis were 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 - Daily