GBP/CAD - 1H - Technical analysis published on 09/22/2023 (GMT)
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- 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 bearish
Underlying:
Strongly bearish
Technical indicators
6%
78%
17%
My opinion
Bearish under 1.6528 CAD
My targets
1.6372 CAD (-0.0126)
1.6255 CAD (-0.0243)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on GBP/CAD as long as the price remains well below 1.6528 CAD. The sellers' bearish objective is set at 1.6372 CAD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.6255 CAD. In case of crossing, the next objective would be the support located at 1.6095 CAD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
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
8.4
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This analysis was given by tiankriek. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/CAD rating 1.6498 CAD. The price is lower by -0.42% since the last closing and was between 1.6479 CAD and 1.6568 CAD. This implies that the price is at +0.12% from its lowest and at -0.42% from its highest.1.6479
1.6568
1.6498
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of GBP/CAD in 1H shows a overall strongly 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, 14 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 1.6095 | 1.6255 | 1.6372 | 1.6498 | 1.6528 | 1.6573 | 1.6682 |
| Change (%) | -2.44% | -1.47% | -0.76% | - | +0.18% | +0.45% | +1.12% |
| Change | -0.0403 | -0.0243 | -0.0126 | - | +0.0030 | +0.0075 | +0.0184 |
| Level | Intermediate | Minor | Intermediate | - | Intermediate | Major | Major |
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 | 1.6411 | 1.6469 | 1.6519 | 1.6577 | 1.6627 | 1.6685 | 1.6735 |
| Camarilla | 1.6538 | 1.6548 | 1.6558 | 1.6568 | 1.6578 | 1.6588 | 1.6598 |
| Woodie | 1.6406 | 1.6467 | 1.6514 | 1.6575 | 1.6622 | 1.6683 | 1.6730 |
| Fibonacci | 1.6469 | 1.6511 | 1.6536 | 1.6577 | 1.6619 | 1.6644 | 1.6685 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 24.32 | |
| MACD (12,26,9): | -0.0022 | |
| Directional Movement: | -29.7841 | |
| AROON (14): | -78.5714 | |
| DEMA (21): | 1.6524 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.6576 | |
| Elder Ray (13): | -0.0037 | |
| Super Trend (3,10): | 1.6570 | |
| Zig ZAG (10): | 1.6487 | |
| VORTEX (21): | 0.8816 | |
| Stochastique (14,3,5): | 16.91 | |
| TEMA (21): | 1.6516 | |
| Williams %R (14): | -94.39 | |
| Chande Momentum Oscillator (20): | -0.0095 | |
| Repulse (5,40,3): | -0.3762 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0158 | |
| Courbe Coppock: | 0.53 |
| MA7: | 1.6648 | |
| MA20: | 1.6926 | |
| MA50: | 1.7021 | |
| MA100: | 1.6937 | |
| MAexp7: | 1.6525 | |
| MAexp20: | 1.6551 | |
| MAexp50: | 1.6587 | |
| MAexp100: | 1.6640 | |
| Price / MA7: | -0.90% | |
| Price / MA20: | -2.53% | |
| Price / MA50: | -3.07% | |
| Price / MA100: | -2.59% | |
| Price / MAexp7: | -0.17% | |
| Price / MAexp20: | -0.33% | |
| Price / MAexp50: | -0.54% | |
| Price / MAexp100: | -0.86% |
Quotes :
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Real time data
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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.
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