Technical Analysis – GBPCAD in bearish mode, recedes below 200-day SMA

Posted on June 2, 2020 at 5:10 am GMT

GBPCAD’s negative momentum seems to be growing, something also reflected in the short-term oscillators. The pair looks to be restricted by the mid-Bollinger band and the 200-day simple moving average (SMA), following a one-month decline from the 1.7703 peak. The MACD, deep in the negative region, has dipped back below its red signal line while the RSI is falling in the bearish territory. Moreover, the stochastic oscillator is turning negative as the %K line nears a bearish overlap with its [..]


Technical Analysis – GBPCAD drifts, stalled within a sideways market

Posted on May 6, 2020 at 2:20 pm GMT

GBPCAD found some traction at the 200-period simple moving average (SMA) of 1.7378 following a drop from the 1.7703 level. The price is still within the confines of a short-term trading range since April 8, something also endorsed by the somewhat flat and converged SMAs. The short-term oscillators display a paused picture of dried up momentum though reflect some signs of optimism. The MACD is barely below its red trigger line and the zero mark. However, the RSI has risen [..]


Technical Analysis – GBPCAD appears to be consolidating declines, capped by the 200 MA  

Posted on March 18, 2020 at 2:49 pm GMT

GBPCAD seems to be lacking direction after the descent from the 1.8045 top, as the pair finds itself squeezed by the upper Bollinger band, coupled by the 200-period simple moving average (SMA) and the lower band. The short-term oscillators reflect a pause in the market but lean towards a negative picture. The MACD, in the negative area, is above its red trigger line but is looking to reclaim it, while the RSI, despite having deflected off its neutral mark and [..]


Technical Analysis – GBPCAD sustains positive sentiment despite pull back

Posted on March 11, 2020 at 3:14 pm GMT

GBPCAD has been heading back north, after failing to close below the 1.7633 barrier, that being the 38.2% Fibonacci retracement of the up leg from 1.6969 to 1.8045. The improvement in the pair is being tracked by the mid-Bollinger band and is attempting to surpass the 23.6% Fibo of 1.7790, further backed by the upward sloping simple moving averages (SMAs). In the technical oscillators, the MACD has fallen below its red trigger line but is still some distance in the [..]


Technical Analysis – GBPCAD holding bullish above the ascending trendline

Posted on February 13, 2020 at 3:02 pm GMT

GBPCAD’s positive momentum appears to be picking up ahead of the uptrend line drawn from the September 3 low. The move up seems to be assisted by the fresh bullish crossover of the 50-day simple moving average (SMA) by the 20-day one, as well as the technical indicators. The short-term oscillators reflect an improving picture with the Stochastics %K and %D lines rising above 20 and having room to cover before reaching the 80 overbought point. The MACD, in the [..]


Technical Analysis – GBPCAD bullish at six-week highs; indicators remain positive

Posted on January 31, 2020 at 11:25 am GMT

GBPCAD has gained this week but it managed to still hold within the Ichimoku cloud in the daily timeframe. The price ran to a fresh six-week peak today at 1.7376, climbing above 1.7340, which is the 23.6% Fibonacci retracement level of the upward wave from 1.5875 to 1.7790, following the rebound off the six-month uptrend line. The technical indicators are feeding prospects of a possibly more aggressive positive tendency; the RSI holds well above 50, while the MACD continues to [..]


Technical Analysis – GBPCAD rallies towards one-month peak; could rise further

Posted on January 23, 2020 at 7:56 am GMT

GBPCAD posted an aggressive upside session on Wednesday, surpassing the 20- and 40-simple moving averages (SMAs) in the daily timeframe and gaining more than 200 pips. The price hit an almost one-month high today of 1.7295. Looking at momentum indicators, the RSI is moving north in the positive territory, approaching the 70 level, while the %K line of the stochastic entered the overbought zone. The MACD also supports this view as it is holding in the negative area but is [..]


Technical Analysis – GBPCAD loses ground; challenges supportive trendline

Posted on January 13, 2020 at 10:20 am GMT

GBPCAD at this time is challenging the 1.6960 level – a support where the pair had consolidated after a decline from the nine-month high of 1.7790 – where the uptrend line, drawn from the low on 3 September 2019 presently resides. The push down seems to be aided by strengthening negative momentum and the bearish crossover of the 50-day simple moving average (SMA) by the 20-day one. The short-term oscillators suggest negative momentum is picking up. The MACD, is declining [..]


Technical Analysis – GBPCAD cautiously positive as decline hits a wall at the 50-day SMA

Posted on December 20, 2019 at 2:04 pm GMT

GBPCAD’s aggressive reversal marginally ahead of the previous high from March 12 of 1.7793 has come to a standstill at the 1.7058 level – which is the 38.2% Fibonacci retracement of the up leg from 1.5874 to 1.7790 – that previously restricted further advances in the pair. The short-term oscillators reflect conflicting signals in directional momentum. The MACD has dropped far below its red trigger line but remains in the positive zone, while the RSI has dipped below its neutral [..]


Technical Analysis – GBPCAD rally looks overstretched near resistance trendline

Posted on December 4, 2019 at 2:16 pm GMT

GBPCAD gained further positive traction on Wednesday and unlocked a fresh 7-month high of 1.7393. It seems that there is more bullish fuel in store, though at a limited amount as the RSI and the Stochastics are moving into overbought waters and the price itself is trading near a resistance trendline that joins the peaks since March 2018.  A complete bearish cross between the 50- and the 200-day SMAs could turn medium-term traders cautious too. In case the price returns below [..]

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