GBPCAD TECHNICAL ANALYSIS

Here is a GBPCAD Technical Analysis on the daily time frame. It is a major currency pair and one of the 21 currency pairs that we cover in our Forex Signals App that is available on both Android and iTunes. You can also view the Forex Signals App video demo.

GBPCAD on the Daily Time Frame

Price is currently trading below the 15 and 30 EMA.

The price is trading in a downward trend.

Price had just come in contact with a support level.

If the price manages to break through the EMA, it may continue to shoot upwards until it touches the 15 EMA.

Additional points on GBPCAD

MACD is red and below the zero-line.

Conclusion

Price is may increase at least up the 15 EMA or the next resistance level.

 

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Have a great trading day ahead!

Ilyas Ismail

Currency Strategist

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