Technical Analysis – GBPCAD bounces within critical support band, bearish risks linger

GBPCAD is struggling to lift over the mid-Bollinger band at 1.5990 and the fresh highs of 1.6029 after unearthing footing within a key support base, which was shaped by the October 2016 and the January 2017 significant troughs. The falling simple moving averages are still endorsing the negative bearing in the pair.

The short-term oscillators reflect the recent positive developments in the pair but are signalling that upside forces appear to be feeble. That said, the MACD is in the negative area and has yet to indicate that positive momentum has dried up. Meanwhile, the positive vibe in the RSI and the stochastic oscillator is flashing modest concerns that the positive impetus in the pair may be lacking profound backing.

In the positive scenario, immediate upside constraints are emanating from the mid-Bollinger band and the adjoining highs around 1.6029 ahead of the 1.6100 handle. In the event buyers overstep the 1.6100 barrier, the 1.6190-1.6231 resistance band associated with the October 2019 lows may be challenged. From here, if the price overcomes the upper Bollinger band, the falling 50-day SMA at 1.6266, and the 1.6315 resistance border, this may mimic a booster jab to buyers’ currently eroded confidence.

Otherwise, if the pair maintains a heavy vibe and selling interest intensifies, sturdy support could commence with a revisit in the price to the 1.5734-1.5797 boundary. Should this key base, which is fortified with the lower Bollinger band fail to terminate negative tendencies in the pair, the bears may then dive for the 1.5573-1.5623 support obstacle that stretches back to the July-August 2013 lows.

Summarizing, GBPCAD is sustaining a bearish bias below the SMAs and the 1.6503-1.6566 resistance border. A dive below the 1.5734-1.5797 support foundation may trigger concerns about further deterioration in the pair, while a push in the price over the 1.6100 mark could feed positive momentum.

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。