GBP/CAD - 1H - Technical analysis published on 02/12/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 1.7196 CAD
My targets
1.7147 CAD (-0.0029)
1.7113 CAD (-0.0063)
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 1.7196 CAD. The sellers” bearish objective is set at 1.7147 CAD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.7113 CAD. In case of crossing, the next objective would be the support located at 1.6957 CAD.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
FORCE
0
10
6.1
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/CAD price is 1.7176 CAD. On the day, this instrument lost -0.25% and was traded between 1.7166 CAD and 1.7237 CAD over the period. The price is currently at +0.06% from its lowest and -0.35% from its highest.1.7166
1.7237
1.7176
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in 1H of this GBP/CAD chart shows a bearish trend. 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 several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 100
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
MACD indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.6957 | 1.7113 | 1.7147 | 1.7176 | 1.7196 | 1.7239 | 1.7357 |
| Change (%) | -1.28% | -0.37% | -0.17% | - | +0.12% | +0.37% | +1.05% |
| Change | -0.0219 | -0.0063 | -0.0029 | - | +0.0020 | +0.0063 | +0.0181 |
| Level | Intermediate | Minor | Minor | - | Intermediate | Major | Intermediate |
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 | 1.7076 | 1.7112 | 1.7165 | 1.7201 | 1.7254 | 1.7290 | 1.7343 |
| Camarilla | 1.7195 | 1.7203 | 1.7211 | 1.7219 | 1.7227 | 1.7235 | 1.7244 |
| Woodie | 1.7086 | 1.7116 | 1.7175 | 1.7205 | 1.7264 | 1.7294 | 1.7353 |
| Fibonacci | 1.7112 | 1.7146 | 1.7167 | 1.7201 | 1.7235 | 1.7256 | 1.7290 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6711 | 1.6924 | 1.7035 | 1.7248 | 1.7359 | 1.7572 | 1.7683 |
| Camarilla | 1.7058 | 1.7088 | 1.7117 | 1.7147 | 1.7177 | 1.7206 | 1.7236 |
| Woodie | 1.6661 | 1.6899 | 1.6985 | 1.7223 | 1.7309 | 1.7547 | 1.7633 |
| Fibonacci | 1.6924 | 1.7047 | 1.7124 | 1.7248 | 1.7371 | 1.7448 | 1.7572 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6544 | 1.6731 | 1.7107 | 1.7294 | 1.7670 | 1.7857 | 1.8233 |
| Camarilla | 1.7327 | 1.7379 | 1.7430 | 1.7482 | 1.7534 | 1.7585 | 1.7637 |
| Woodie | 1.6638 | 1.6778 | 1.7201 | 1.7341 | 1.7764 | 1.7904 | 1.8327 |
| Fibonacci | 1.6731 | 1.6946 | 1.7079 | 1.7294 | 1.7509 | 1.7642 | 1.7857 |
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): | 39.72 | |
| MACD (12,26,9): | -0.0004 | |
| Directional Movement: | -12.1421 | |
| AROON (14): | -50.0000 | |
| DEMA (21): | 1.7201 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7229 | |
| Elder Ray (13): | -0.0021 | |
| Super Trend (3,10): | 1.7248 | |
| Zig ZAG (10): | 1.7175 | |
| VORTEX (21): | 0.8718 | |
| Stochastique (14,3,5): | 26.15 | |
| TEMA (21): | 1.7193 | |
| Williams %R (14): | -88.73 | |
| Chande Momentum Oscillator (20): | -0.0038 | |
| Repulse (5,40,3): | -0.1916 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0014 | |
| Courbe Coppock: | 0.23 |
| MA7: | 1.7214 | |
| MA20: | 1.7193 | |
| MA50: | 1.7187 | |
| MA100: | 1.7022 | |
| MAexp7: | 1.7194 | |
| MAexp20: | 1.7204 | |
| MAexp50: | 1.7203 | |
| MAexp100: | 1.7208 | |
| Price / MA7: | -0.22% | |
| Price / MA20: | -0.10% | |
| Price / MA50: | -0.06% | |
| Price / MA100: | +0.90% | |
| Price / MAexp7: | -0.11% | |
| Price / MAexp20: | -0.17% | |
| Price / MAexp50: | -0.16% | |
| Price / MAexp100: | -0.19% |
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.
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