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Weekly forecast British Pound / Canadian Dollar technical chart
Symbol GBPCAD

Download MT4 template file

Trade Setup

#GBPCAD
Total Profit: 1130 pip
Closed trade(s): 1130 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 1.7505 based on 'Peak' at 2021.02.26 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 1.7435 touched at 2021.03.12 with 70 pip Profit.
TP2 @ 1.7315 touched at 2021.03.15 with 190 pip Profit.
TP3 @ 1.7160 touched at 2021.04.09 with 345 pip Profit.
TP4 @ 1.6980 touched at 2021.04.30 with 525 pip Profit.
70 + 190 + 345 + 525 = 1130 pip

5 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (1.7675 to 1.7790). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.7675)
    • Resistance on 05/01/2017
    • Resistance on 05/11/2017
    • Resistance on 05/12/2017
    • Resistance on 05/15/2017
    • Resistance on 05/17/2017
    • Resistance on 05/18/2017
    • Resistance on 05/19/2017
    • Resistance on 02/08/2018
    • Support on 02/27/2018
    • Support on 03/02/2018
    • Resistance on 05/01/2018
    • Resistance on 06/22/2018
    • Resistance on 06/25/2018
    • Resistance on 06/26/2018
    • Resistance on 03/11/2019
    • Resistance on 03/12/2019
    • Resistance on 03/19/2019
    • Resistance on 03/20/2019
    • Resistance on 03/27/2019
    • Resistance on 03/28/2019
    • Resistance on 05/06/2019
    • Resistance on 12/13/2019
    • Support on 03/10/2020
    • Resistance on 03/12/2020
    • Resistance on 03/31/2020
    • Resistance on 04/01/2020
    • Resistance on 04/02/2020
    • Resistance on 04/15/2020
    • Resistance on 04/16/2020
    • Resistance on 05/01/2020
    • Peak on 07/31/2020
    • Resistance on 07/31/2020
    • Resistance on 02/16/2021
    • Support on 02/24/2021
  • Ending of entry zone (1.7790)
    • Resistance on 05/02/2017
    • Resistance on 05/04/2017
    • Resistance on 05/05/2017
    • Resistance on 05/09/2017
    • Resistance on 05/10/2017
    • Resistance on 05/11/2017
    • Resistance on 05/18/2017
    • Resistance on 02/23/2018
    • Resistance on 02/26/2018
    • Resistance on 03/02/2018
    • Support on 03/08/2018
    • Support on 04/20/2018
    • Resistance on 03/12/2019
    • Resistance on 03/13/2019
    • Resistance on 03/25/2019
    • Resistance on 03/26/2019
    • Resistance on 03/27/2019
    • Peak on 12/13/2019
    • Resistance on 12/13/2019
    • Resistance on 03/11/2020
    • Peak on 03/31/2020
    • Resistance on 03/31/2020
    • Resistance on 02/23/2021
    • Resistance on 02/24/2021
    • Resistance on 03/01/2021
DateMay 2, 2021 - 10:59
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.67700, beginning of uptrend is expected.
  • We make sure when the resistance at 1.79000 breaks.
  • If the support at 1.67700 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 1.7585 on 04/20/2021, so more losses minimum to Major Support (1.6770) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 32.

Take Profits:

  1. 1.7435
  2. 1.7315
  3. 1.7160
  4. 1.6980
  5. 1.6770
  6. 1.6585
  7. 1.6190
  8. 1.5875
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / Canadian Dollar (GBPCAD) new Sun, 14 Apr 2024
British Pound / Canadian Dollar (GBPCAD) Sun, 7 Apr 2024
British Pound / Canadian Dollar (GBPCAD) Sat, 30 Mar 2024
British Pound / Canadian Dollar (GBPCAD) Mon, 25 Mar 2024
British Pound / Canadian Dollar (GBPCAD) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on GBPCAD.