GBP/CAD
GBP CAD
- CAD (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: GBPCAD
ISIN:

GBP/CAD - 1H - Technical analysis published on 12/16/2019 (GMT)

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  • Timeframe : 1H
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Summary of the analysis

Trends
Court terme: Neutral
De fond: Bullish
Technical indicators
28%
22%
50%
My opinion
Bullish above 1.7498 CAD
My targets
1.7753 CAD (+0.0176)
1.8104 CAD (+0.0527)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the support located at 1.7498 CAD remains possible. It is advisable to trade GBP/CAD with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 1.7498 CAD. The next bullish objective for buyers is set at 1.7753 CAD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.8104 CAD. If there is any crossing, the next objective would be the resistance located at 1.8348 CAD. PS: if there is a bearish break in the support located at 1.7498 CAD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.

Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
FORCE
0
10
3.4

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 Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The GBP/CAD price is 1.7577 CAD. The price registered an increase of +0.11% on the session with the lowest point at 1.7570 CAD and the highest point at 1.7653 CAD. The deviation from the price is +0.04% for the low point and -0.43% for the high point.

1.7570
1.7653
1.7577

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



So that you have an overall view of the price change, here is a table showing the variations over several periods:
The study of the highest / lowest by the Central Records scanner shows the following result:

Central Records

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of this 1H chart of GBP/CAD indicates that the overall trend is bullish. The signals given by moving averages are 75% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:

Central Indicators

Bearish trend reversal : adaptative moving average 20

Type : Bearish

Timeframe : 1 hour



In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 5 are bullish, 9 are neutral and 4 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour


CCI indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

MACD crosses DOWN its Moving Average

Type : Bearish

Timeframe : 1 hour


Price is back over the pivot point

Type : Bullish

Timeframe : Weekly



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:

Central Patterns

Near horizontal support

Type : Bullish

Timeframe : 1 hour


Support of channel is broken

Type : Bearish

Timeframe : 1 hour



The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:

Central Candlesticks

Bearish engulfing lines

Type : Bearish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 1.7239 1.7348 1.7498 1.7577 1.7590 1.7753 1.8348
Change (%) -1.92% -1.30% -0.45% - +0.07% +1.00% +4.39%
Change -0.0338 -0.0229 -0.0079 - +0.0013 +0.0176 +0.0771
Level Major Intermediate Major - Minor Major Intermediate



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
Standard1.72101.73671.74621.76191.77141.78711.7966
Camarilla1.74891.75121.75351.75581.75811.76041.7627
Woodie1.71801.73521.74321.76041.76841.78561.7936
Fibonacci1.73671.74631.75221.76191.77151.77741.7871


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard1.66651.69381.72481.75211.78311.81041.8414
Camarilla1.73981.74511.75051.75581.76111.76651.7718
Woodie1.66841.69471.72671.75301.78501.81131.8433
Fibonacci1.69381.71611.72981.75211.77441.78811.8104


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard1.65091.66801.69291.71001.73491.75201.7769
Camarilla1.70631.71011.71401.71781.72171.72551.7294
Woodie1.65481.67001.69681.71201.73881.75401.7808
Fibonacci1.66801.68401.69401.71001.72601.73601.7520

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): 48.33
MACD (12,26,9): 0.0012
Directional Movement: 0.0970
AROON (14): 71.4286
DEMA (21): 1.7627
Parabolic SAR (0,02-0,02-0,2): 1.7653
Elder Ray (13): -0.0017
Super Trend (3,10): 1.7546
Zig ZAG (10): 1.7587
VORTEX (21): 0.9571
Stochastique (14,3,5): 61.01
TEMA (21): 1.7611
Williams %R (14): -64.15
Chande Momentum Oscillator (20): 0.0028
Repulse (5,40,3): -0.2415
ROCnROLL: -1
TRIX (15,9): 0.0115
Courbe Coppock: 0.36
MA7: 1.7491
MA20: 1.7294
MA50: 1.7038
MA100: 1.6643
MAexp7: 1.7612
MAexp20: 1.7608
MAexp50: 1.7565
MAexp100: 1.7506
Price / MA7: +0.49%
Price / MA20: +1.64%
Price / MA50: +3.16%
Price / MA100: +5.61%
Price / MAexp7: -0.20%
Price / MAexp20: -0.18%
Price / MAexp50: +0.07%
Price / MAexp100: +0.41%

This member declared not having a position on this financial instrument or a related financial instrument.

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