ForexProfitZone - GBP/CAD | British Pound to Canadian Dollar Trading Analysis

GBP/CAD | British Pound to Canadian Dollar Trading Analysis

Thursday September 02, 2021

Risk aversion has caused the pound to suffer. However, according to MUFG economists, the pound will be bolstered by the Bank of England's willingness to continue its plans to roll back policy measures next year.

GBP/CAD,D1

Pivot: 1.7378

Analysis:

While the price is below 1.7591, follow the recommendations below:

Time frame: D1
Recommendation: short position
Entry point: 1.7378
Take Profit 1: 1.7268
Take Profit 2: 1.7017

Alternative scenario:

If the level 1.7591 is broken-out, follow the recommendations below:

Time frame: D1
Recommendation: long position
Entry point: 1.7591
Take profit 1: 1.7861
Take Profit 2: 1.8023

Comment:

RSI shows the possibility of a downtrend in the medium term.

Key levels:

Resistance --- Support

1.8023 --------- 1.7268

1.7861 --------- 1.7017

1.7591 --------- 1.6856

GBP CAD

XAU/USD | GOLD/USD Forecast Fundamental Analysis | GOLD Ounce / US Dollar

EUR/JPY | Euro to Japanese Yen Trading Analysis

GBP NZD

Tuesday August 31, 2021

GBP/NZD Forecast Fundamental Analysis | British Pound / New Zealand Dollar

The New Zealand ANZ Activity Outlook for August increased 19.2%, and ANZ Business Confidence was reported at -14.2. Forex traders can compare this to the New Zealand ANZ Activity Outlook for July, which increased 26.3%, and ANZ Business Confidence reported at -3.8.

CAD EUR