GBP/CAD
Two Things Stand Between GBP/CAD and an Upside Breakout
TL;DR: GBP/CAD looks ready to resume its uptrend after rebounding from the 55-day EMA, but a sustained breakout depends on two separate forces — Friday's volatile Canadian jobs report and whether oil's renewed strength above $86 continues to support the Canadian Dollar.
GBPcad Elliott Wave : Forecasting the Path
Hello fellow traders. In this technical blog we're going to take a quick look at the Elliott Wave charts of GBPCAD Forex pair published in members area of the website.
GBPCAD Wave Analysis
GBPCAD currency pair recently reversed from the support area between the support level 1.8720 (which reversed the price multiple times at the end of June), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from May.
GBPcad Rally: Perfect Reaction from the Extreme Area
GBP/CAD has spent the past few weeks tracing out a clean five-wave rally on the 1-hour chart, and now the pair looks to be working through the correction that typically follows a completed impulse. Here's a breakdown of the structure and what it could mean for the path ahead.
GBP/CAD Hits Decade High as USMCA Shock Adds New Driver Ahead of Jobs Data
GBP/CAD climbed to its highest level in a decade this week, reflecting an increasingly powerful divergence between a Pound supported by fading domestic political risks and a Canadian Dollar facing mounting structural headwinds. Sterling continues to benefit from the unwinding of sizeable speculative short positions built ahead of Prime Minister Keir Starmer's resignation, while Bank of England Governor Andrew Bailey has effectively ruled out near-term rate cuts.
Pound-to-Canadian Dollar News, Forecast: GBP/CAD Flat amid USMCA Risks
The Pound to Canadian Dollar (GBP/CAD) exchange rate traded in a narrow range on Wednesday as uncertainty surrounding USMCA trade negotiations kept the Canadian Dollar subdued while Sterling awaited comments from Bank of England Governor Andrew Bailey. At the time of writing, GBP/CAD was trading at CA$1.8827, little changed on the.
Sterling Slips on UK Inflation Misses, But GBP/CAD Bullish Case Remains Intact
Sterling came under modest pressure after UK inflation data undershot expectations in May, but the report is unlikely to materially alter the Bank of England's policy outlook or the broader bullish case for some GBP crosses. Headline CPI held steady at 2.8% yoy, below expectations for a rise to 3.0% yoy, while monthly inflation slowed sharply from 0.7% mom to 0.2% mom.
GBPCAD Wave Analysis
GBPCAD currency pair recently broke the resistance zone between the resistance level 1.8680 (which has been steadily reversing the price from the start of April) and the resistance trendline of the daily Triangle from January.
Pound-to-Canadian Dollar Five-Day Forecast: GBP/CAD Firms as Oil Prices Soften
The Pound to Canadian Dollar (GBP/CAD) exchange rate advanced strongly last week as falling oil prices and softer Canadian inflation weighed on the ‘Loonie', while easing political tensions in the UK helped underpin Sterling. Latest — Exchange Rates:Pound to Canadian Dollar (GBP/CAD): 1.86181 (-0.07%)Euro to Canadian Dollar.
Pound to Canadian Dollar Price News, Forecast: GBP/CAD Rises as Oil Prices Slide
The Pound to Canadian Dollar (GBP/CAD) exchange rate jumped on Wednesday as a sharp drop in oil prices dampened the appeal of the commodity-linked ‘Loonie'. Latest — Exchange Rates:Pound to Canadian Dollar (GBP/CAD): 1.84884 (+0.4%)Euro to Canadian Dollar (EUR/CAD): 1.61331 (+0.25%)Dollar to Canadian Dollar (USD/CAD): 1.38908.
GBP/CAD eyes major break below 1.80 ahead of UK GDP and Canada jobs
GBP/CAD is entering a decisive moment as markets prepare for two key economic releases today: UK January GDP and Canada's February employment report. The data arrives just days before the BoC's policy decision on March 18 and the BoC's meeting on March 19, making the numbers particularly influential for near-term policy expectations.
Canadian Dollar Sends GBP/CAD to Lowest Level in Nearly a Year
The Canadian dollar surges as Middle East conflict sends GBP/CAD to its lowest in nearly a year. Image © Adobe Images The Canadian dollar surges as Middle East conflict sends GBP/CAD to its lowest in nearly a year.
