GBP/CAD: how to bet against the pound

GBP/CAD: how to bet against the pound

Trade idea

SELL 1.7620; TP1 1.7535; TP2 1.7445; SL 1.7640

GBP/CAD has been trying to break above the 200-week MA at 1.7735 for 4 weeks. However, for now, the resistance stands, not letting the pair get higher. The pound obviously needs some really cheering news about Brexit to jerk up. We can see that there are a lot of sellers between 1.7750 and 1.78. A break above the latter level is needed to confirm a break and open the way to 1.80 and higher. In the meantime, the pair that lacks the bullish momentum may revisit support levels. A break below the 100-period MA on H4 at 1.7625 will target 1.7535 or even 1.7445 (200-period MA on H4).      

GBPCAD.png

Similar

How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

Latest news

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera