GBP/CAD - Daily - Technical analysis published on 08/15/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
44%
17%
39%
My opinion
Bullish above 1.7329 CAD
My targets
1.7767 CAD (+0.0142)
1.8590 CAD (+0.0965)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on GBP/CAD as long as the price remains well above 1.7329 CAD. The buyers' bullish objective is set at 1.7767 CAD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.8590 CAD. If there is any crossing, the next objective would be the resistance located at 1.9154 CAD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
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
5.2
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 GCrow. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/CAD rating is 1.7625 CAD. On the day, this instrument gained +0.20% with the lowest point at 1.7579 CAD and the highest point at 1.7630 CAD. The deviation from the price is +0.26% for the low point and -0.03% for the high point.1.7579
1.7630
1.7625
Here is a more detailed summary of the historical variations registered by GBP/CAD:
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 this Daily chart of GBP/CAD indicates that the overall trend is strongly bullish. 82.14% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : Daily
In fact, according to the parameters integrated into the Central Analyzer system, only 8 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : Daily
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 1.7204 | 1.7329 | 1.7557 | 1.7625 | 1.7767 | 1.8590 | 1.9154 |
| Change (%) | -2.39% | -1.68% | -0.39% | - | +0.81% | +5.48% | +8.68% |
| Change | -0.0421 | -0.0296 | -0.0068 | - | +0.0142 | +0.0965 | +0.1529 |
| Level | Major | Major | Intermediate | - | Major | Minor | Minor |
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 | 1.7503 | 1.7542 | 1.7566 | 1.7605 | 1.7629 | 1.7668 | 1.7692 |
| Camarilla | 1.7573 | 1.7579 | 1.7584 | 1.7590 | 1.7596 | 1.7602 | 1.7607 |
| Woodie | 1.7496 | 1.7538 | 1.7559 | 1.7601 | 1.7622 | 1.7664 | 1.7685 |
| Fibonacci | 1.7542 | 1.7566 | 1.7581 | 1.7605 | 1.7629 | 1.7644 | 1.7668 |
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): | 51.35 | |
| MACD (12,26,9): | -0.0003 | |
| Directional Movement: | -0.0268 | |
| AROON (14): | -57.1428 | |
| DEMA (21): | 1.7628 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7418 | |
| Elder Ray (13): | -0.0007 | |
| Super Trend (3,10): | 1.7770 | |
| Zig ZAG (10): | 1.7624 | |
| VORTEX (21): | 0.9207 | |
| Stochastique (14,3,5): | 49.59 | |
| TEMA (21): | 1.7576 | |
| Williams %R (14): | -47.95 | |
| Chande Momentum Oscillator (20): | -0.0154 | |
| Repulse (5,40,3): | 0.3655 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0152 | |
| Courbe Coppock: | 2.35 |
| MA7: | 1.7553 | |
| MA20: | 1.7674 | |
| MA50: | 1.7554 | |
| MA100: | 1.7386 | |
| MAexp7: | 1.7594 | |
| MAexp20: | 1.7618 | |
| MAexp50: | 1.7555 | |
| MAexp100: | 1.7433 | |
| Price / MA7: | +0.41% | |
| Price / MA20: | -0.28% | |
| Price / MA50: | +0.40% | |
| Price / MA100: | +1.37% | |
| Price / MAexp7: | +0.18% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | +0.40% | |
| Price / MAexp100: | +1.10% |
Quotes :
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Real time data
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Forex
News
Don't forget to follow the news on GBP/CAD. At the time of publication of this analysis, the latest news was as follows:
-
GBP/CAD Forecast August 13, 2024
-
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
-
Why I'm looking to buy GBPCAD: Coleman
-
Oil & Brexit GBP CAD
This member declared not having a position on this financial instrument or a related financial instrument.
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