Tues 6th December 2022

Today, Our Daily Currency Strength Weakness Video will focus on:

  • GBPCAD
  • NZDUSD

Charts Provided by Charles Clifton

Daily Analysis By Jon Kibbler

GBPCAD- Day Trading Idea

In today’s currency strength analysis video we identify a day trading opportunity on GBPCAD.

The GBP is S1 and CAD is W1 on the day traders tables offering short term opportunities. 

The current price shows a long idea forming as price has retested previous demand as well as a trendline support.

This could see price rally to the recent highs or even the key weekly level of 0.6775 above. 

Technical Observations

  • The CAD is W1 and GBP is S1 on the day traders table. 
  • The price is trading above the 200 Daily Moving Average.
  • On the weekly chart the price has comeback within in a larger range at 1.5900 and is heading towards the swing lows 0.6775. 
  • The 30 minute time frame shows the price breaking through the trendline resistance and finding support.
  • This could offer day traders an opportunity to look for a long.

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