The GBPCAD pair is predicted to be bearish according to recent analysis. Find out why and learn about some of the best trading strategies for profiting from this move. Forex traders, this could be your chance to make some profits!
It’s always a difficult decision when it comes to forex trading, especially when you’re considering whether to buy or sell a particular currency. So which one should you go for this week – the Canadian dollar or the British pound? Let’s take a look at the pros and cons of each to help you make up your mind.
Which currency should you invest in this week? The Canadian dollar or the British pound? Let’s take a look at the pros and cons of each!
Why I think the GBPCAD is going Bearish
The GBPCAD had been steadily moving down from February 21 to present and it is still moving down.
GBPCAD bearish prediction based on the MRC & Auto Fib Extension by forexandprofits on TradingView.com
- The RSI and ADX agree that the trend is still strongly bearish for this pair.
- The price is at the resistance level and has entered the oversold area, however as per the Fib with the MRC ( Mean Reversion Indicator), and the SRS Trend Rider Pro they all display a strong Bearish sentiment.
- My analysis on the 4 Hour chart in Smarttrader shows a target of 1.62189 for those who want to ride the GBPCAD train a bit longer until the 1.618 on the Fib scale and target is reached.
- Careful monitoring of this pair is needed to take advantage of a trend reversal up when it is ready using the Pivot Super Trend.
My profit target is: 1.62189.
What is the current direction with the SRS Trend Rider Pro?
The SRS Trend Rider Pro displays a strong Bearish sentiment for the GBPCAD pair, on the 4 Hour chart.
The market is constantly changing, and with it the needs of traders. That’s why I’ve started using the SRS Trend Rider Pro for Metatrader 4.
It’s a great tool that helps me stay on top of the market and make the most accurate trades possible. If you’re looking for an edge in the markets, I highly recommend using this tool!
What are the forex experts saying about the GBPCAD prediction?
Central Charts
Bearish GBPCAD price forecast
Type : Bearish
Timeframe : Weekly
Investing
Bearish GBPCAD price forecast
Type : Bearish
Timeframe : Hourly
Action Forex
Bearish GBPCAD action bias forecast
Type : Bearish
Timeframe : 6H/Weekly
What will be the price of the GBPCAD in the next months?
Walletinvestor
Bullish GBPCAD prediction
- Bullish 1-year forecast for the GBPCAD to 1.648
- Bearish 5-year forecast to 1.650
According to forex analysts, the GBPCAD is predicted to move lower in value in the near future.
Forecast City
Bearish long-term forecast for the GBPCAD
If you’re looking for an exciting pair to trade, look no further than GBPCAD!
At what level is the GBPCAD price Expected to Rise?
According to Gov Capital, the GBPCAD currency pair is expected to reach 9.04245 in 2027
At what price is GBPCAD price expected to drop?
The least possible price of the GBPCAD may be 1.3396 in July 2022, according to GovCapital.
What to do next?
It’s time to boost your trading account with some signals that I really believe in. I also shared the best trading ideas for Gold – the charts are updated frequently. Let me know your thoughts.
We provide new trading analysis every week
Was this article helpful for you? What do you think of the the GBPCAD chart? I often use Pivot points in my analysis. I have already written an article where I explained in detail how to use pivot points in Forex..
I’d love to know what you thought of this article. Don’t forget to go to our Facebook page and give us a “Like” and leave your comments.
Disclaimer:
Before participating in Foreign Currency Trading (Forex Market) you must consider carefully the risks of the market, which has big rewards potential, yet is also extremely risky.
Consider all the risks carefully before investing in the Forex Market.
Remember that all the information and signals, prices and trade recommendations provided here on Forex and Profits is only general information and market commentary, thus, it does not incorporate investment advice.