{"id":59269,"date":"2014-08-25T10:10:04","date_gmt":"2014-08-25T14:10:04","guid":{"rendered":"http:\/\/countingpips.com\/?p=59269"},"modified":"2014-08-25T10:52:49","modified_gmt":"2014-08-25T14:52:49","slug":"gbpcad-bottoms-on-200-day-sma","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/08\/gbpcad-bottoms-on-200-day-sma\/","title":{"rendered":"GBP\/CAD Bottoms on 200-Day SMA"},"content":{"rendered":"<div id=\"inves-3455861825\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 25, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <span style=\"color: #008000;\"><strong>Bullish<\/strong><\/span><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>Pair sees steady buying throughout European session despite U.K. Bank Holiday;<\/li>\n<li>Multiple rejections off 1.8122\/27 suggest a temporary bottom;<\/li>\n<li>Above 1.8225, GBP\/CAD bulls will quickly aim for 1.8320.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><em>GBP\/CAD sellers failed again and again last week in their attempt to price in a fresh Lower Low, despite largely disappointing favorable UK data and a slightly bullish bias for the Canadian Dollar.<\/em><\/p>\n<p><a href=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/08\/GBPCAD-25th-August.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5966\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/08\/GBPCAD-25th-August.png\" alt=\"GBPCAD 25th August\" width=\"700\" height=\"346\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">The pair is currently consolidating above a huge support cluster at 1.812, level strengthened by the 200-Day Simple Moving Average. During the European session GBP\/CAD saw steady buying up to 1.8200, inciting a test of the resistance trendline and the nearby price pivot zone located between 1.8225\/35. A continuation above these levels will trigger stop losses from trend traders, which in turn will escalate the rally up to the next resistance cluster.<\/p>\n<p style=\"text-align: justify;\">Lacking any economic triggers, a technical correction up to 1.8320 seems very plausible at this point. This cluster was a decent price pivot zone in the past; right now it marks the 50% Fibonacci retracement from the High at 1.8518 to the current low, with additional strength from the 200 Moving Average on 4H. Stochastic is extremely oversold on Daily, confirming a bottom &amp; bounce scenario.<\/p>\n<p style=\"text-align: justify;\">A bearish rejection around 1.8225\/35 will indicate a prolonged consolidation for GBP\/CAD, in which case traders are advised to exclusively trade breakouts above and below the current boundaries.<\/p><div id=\"inves-4204413636\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>*********<br \/>\nPrepared by Alex Z., Chief Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\/\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bullish Key Takeaways Pair sees steady buying throughout European session despite U.K. Bank Holiday; Multiple rejections off 1.8122\/27 suggest a temporary bottom; Above 1.8225, GBP\/CAD bulls will quickly aim for 1.8320. GBP\/CAD sellers failed again and again last week in their attempt to price in a fresh Lower Low, despite largely disappointing favorable [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-59269","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=59269"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59269\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=59269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=59269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=59269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}