GBP/CAD - 1H - Technical analysis published on 08/13/2024 (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 bullish
Underlying:
Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 1.7514 CAD
My targets
1.7632 CAD (+0.0073)
1.7728 CAD (+0.0169)
My analysis
The bullish trend is currently very strong on GBP/CAD. As long as the price remains above the support at 1.7514 CAD, you could try to benefit from the boom. The first bullish objective is located at 1.7632 CAD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.7728 CAD as an objective. Crossing it would then enable buyers to target 1.7767 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
7.9
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This analysis was given by GCrow. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/CAD rating is 1.7559 CAD. The price has increased by +0.06% since the last closing and was traded between 1.7544 CAD and 1.7560 CAD over the period. The price is currently at +0.09% from its lowest and -0.01% from its highest.1.7544
1.7560
1.7559
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 (5 years)
Type : Bullish
Timeframe : Weekly
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
Technical analysis of GBP/CAD in 1H shows a strongly overall bullish trend. 89.29% 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. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 13 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Aroon indicator bearish trend
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of 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 | 1.7468 | 1.7514 | 1.7557 | 1.7559 | 1.7632 | 1.7728 | 1.7767 |
| Change (%) | -0.52% | -0.26% | -0.01% | - | +0.42% | +0.96% | +1.18% |
| Change | -0.0091 | -0.0045 | -0.0002 | - | +0.0073 | +0.0169 | +0.0208 |
| Level | Minor | Intermediate | Intermediate | - | Minor | Minor | Major |
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 | 1.7436 | 1.7467 | 1.7508 | 1.7539 | 1.7580 | 1.7611 | 1.7652 |
| Camarilla | 1.7529 | 1.7536 | 1.7542 | 1.7549 | 1.7556 | 1.7562 | 1.7569 |
| Woodie | 1.7441 | 1.7470 | 1.7513 | 1.7542 | 1.7585 | 1.7614 | 1.7657 |
| Fibonacci | 1.7467 | 1.7495 | 1.7512 | 1.7539 | 1.7567 | 1.7584 | 1.7611 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6997 | 1.7203 | 1.7363 | 1.7569 | 1.7729 | 1.7935 | 1.8095 |
| Camarilla | 1.7423 | 1.7457 | 1.7491 | 1.7524 | 1.7558 | 1.7591 | 1.7625 |
| Woodie | 1.6975 | 1.7192 | 1.7341 | 1.7558 | 1.7707 | 1.7924 | 1.8073 |
| Fibonacci | 1.7203 | 1.7343 | 1.7429 | 1.7569 | 1.7709 | 1.7795 | 1.7935 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6832 | 1.7058 | 1.7401 | 1.7627 | 1.7970 | 1.8196 | 1.8539 |
| Camarilla | 1.7589 | 1.7641 | 1.7693 | 1.7745 | 1.7797 | 1.7849 | 1.7902 |
| Woodie | 1.6892 | 1.7087 | 1.7461 | 1.7656 | 1.8030 | 1.8225 | 1.8599 |
| Fibonacci | 1.7058 | 1.7275 | 1.7409 | 1.7627 | 1.7844 | 1.7978 | 1.8196 |
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): | 62.98 | |
| MACD (12,26,9): | 0.0008 | |
| Directional Movement: | 12.7567 | |
| AROON (14): | -7.1429 | |
| DEMA (21): | 1.7554 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7546 | |
| Elder Ray (13): | 0.0009 | |
| Super Trend (3,10): | 1.7523 | |
| Zig ZAG (10): | 1.7558 | |
| VORTEX (21): | 1.1520 | |
| Stochastique (14,3,5): | 69.73 | |
| TEMA (21): | 1.7556 | |
| Williams %R (14): | -3.70 | |
| Chande Momentum Oscillator (20): | 0.0021 | |
| Repulse (5,40,3): | 0.0547 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0062 | |
| Courbe Coppock: | 0.17 |
| MA7: | 1.7531 | |
| MA20: | 1.7686 | |
| MA50: | 1.7548 | |
| MA100: | 1.7375 | |
| MAexp7: | 1.7552 | |
| MAexp20: | 1.7544 | |
| MAexp50: | 1.7531 | |
| MAexp100: | 1.7535 | |
| Price / MA7: | +0.16% | |
| Price / MA20: | -0.72% | |
| Price / MA50: | +0.06% | |
| Price / MA100: | +1.06% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +0.09% | |
| Price / MAexp50: | +0.16% | |
| Price / MAexp100: | +0.14% |
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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GBP/CAD Forecast August 13, 2024
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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
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Oil & Brexit GBP CAD
This member declared not having a position on this financial instrument or a related financial instrument.
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