{"id":82993,"date":"2015-12-28T07:34:48","date_gmt":"2015-12-28T12:34:48","guid":{"rendered":"http:\/\/countingpips.com\/?p=82993"},"modified":"2015-12-28T07:34:48","modified_gmt":"2015-12-28T12:34:48","slug":"short-term-trading-idea-fx-gbpcad-bear-speculation-expected-fall-to-2-0340","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/12\/short-term-trading-idea-fx-gbpcad-bear-speculation-expected-fall-to-2-0340\/","title":{"rendered":"Short-term Trading Idea FX GBP\/CAD \u2013 Bear Speculation: Expected Fall to 2.0340"},"content":{"rendered":"<div id=\"inves-2056520583\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">December 28, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By\u00a0Vladislav Antonov, Alpari<\/strong><\/p>\n<div class=\"reviews-item__content\">\n<p><strong><em>Trading opportunities for currency pair:<\/em><\/strong><em> with a bounce from the 2.0949 maximum, a double bottom is starting to form on the daily. Any further revival of oil prices will see the GBP\/CAD drop to 2.0340.<\/em><\/p>\n<p><strong><em>Background<\/em><\/strong><\/p>\n<p>The last GBP\/CAD idea I made came out on <a href=\"http:\/\/www.alpari.com\/en\/analytics\/reviews\/trading_ideas\/11016_16112015\/\">16<sup>th<\/sup> November<\/a>. When the review was published, the pair was trading 2.0297. Due to falling oil prices, following a bounce to 2.0200, I was expecting to see a break through 2.0335 with a 2.0500 target. The idea didn\u2019t come off since Brent stopped falling from 13<sup>th<\/sup> to 22<sup>nd<\/sup>November. Correspondingly, the GBP\/CAD rate couldn\u2019t pass the resistance. The pair was trading in a narrow range and under the resistance throughout the week.<\/p>\n<p>When Brent hit $46.5 per barrel, the GBP\/CAD dropped to 1.9849. The rally on the cross started only on 3<sup>rd<\/sup> December after a fall in oil quotes and a weakening of the Canadian throughout the market. Due to a weakening of the Canadian dollar and a fall in oil quotes, the GBP\/CAD rose to 2.0949.<\/p>\n<p><strong><em>Current Situation<\/em><\/strong><\/p>\n<p>Now a few words on the current situation. The technical picture is really interesting. A double bottom has appeared due to a bounce from 2.0949 to 2.0560. If we take into account that Brent is now undergoing an upward correction, it\u2019s pretty likely that we\u2019ll see a further fall to 2.0340 for the pound against its Canadian counterpart. We\u2019ll see how things go in the New Year.<\/p>\n<p>Why not take advantage of the improved version of the Trader\u2019s Calculator.<\/p>\n<p><a href=\"http:\/\/www.alpari.com\/en\/trading\/calculator\/\">Calculate the swap and point cost &gt;&gt;&gt;<\/a><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.alpari.ru\/data\/media\/trunk\/images\/Analytics\/2015\/12\/gbpcad_281215.png\" alt=\"\" \/><\/p>\n<\/div>\n<p>By Alpari, Source:\u00a0<a href=\"http:\/\/alpari.com\/en\/analytics\/reviews\/trading_ideas\/11700_28122015\/\" target=\"_blank\">http:\/\/alpari.com\/en\/analytics\/reviews\/trading_ideas\/11700_28122015\/<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0Vladislav Antonov, Alpari Trading opportunities for currency pair: with a bounce from the 2.0949 maximum, a double bottom is starting to form on the daily. Any further revival of oil prices will see the GBP\/CAD drop to 2.0340. Background The last GBP\/CAD idea I made came out on 16th November. When the review was published, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-82993","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/82993","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=82993"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/82993\/revisions"}],"predecessor-version":[{"id":82994,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/82993\/revisions\/82994"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=82993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=82993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=82993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}