GBP/CAD Technical Analysis | GBP/CAD Trading: 2019-12-24 | IFCM India
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GBP/CAD Technical Analysis - GBP/CAD Trading: 2019-12-24

Slowing Canadian economy bullish for GBPCAD

Canada’s economy shrank by 0.1% over month in October, the first monthly decline since February. Will the GBPCAD continue rising?

GBPCAD rising toward MA(50)

The price chart on 1-hour timeframe shows GBPCAD: H1 is in uptrend. The price is rising toward the 200-period moving average MA(200) which is falling. The RSI oscillator is below 50 level but has not reached the oversold zone.

Technical Analysis Summary

OrderBuy
Buy stop Above 1.7055
Stop lossBelow 1.6998

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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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