GBP/CAD Live News

This page provides live coverage and news analysis on the GBP/CAD currency pair

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Nov. 27, 2020

GBP/CAD drops to 1.73 after starting the day at 1.7383 (down -0.49%)

(23:45) GMT

GBP/CAD is dark red after losing 84 pips, tumbling down to 1.73.

At the same time, GBP/NZD is down 117 pips from the beginning of the session and now trading around 1.9067. The pound is down 42 pips from the beginning of the session and is now trading around 1.3356.

GBP/CAD is getting closer and is now only zero pips from the support line at 1.727. Dipping below it might indicate further losses are ahead. At 1.7349, GBP/CAD made an initial breakout below the 10 day Simple Moving Average. The upper Bollinger band is at 1.749 and the lower is 1.7077. Overall, looking at all the technical indicators, it seems GBP/CAD is neutral for the immediate future, with no clear-cut direction.

The market will be looking forward to the upcoming release of the following indicators: United Kingdom BoE MPC Member Haldane's speech scheduled to come out tomorrow at 1:30 PM.

Nov. 26, 2020

GBP/CAD down 17 pips(-0.1%), trading around 1.7375

(22:45) GMT

At the same time, GBP/NZD is down 45 pips from the beginning of the session and now trading around 1.9096. Oil is down 71 cents from the beginning of the session and is now trading around 45.71.

The GBP/CAD is getting closer and is now only 93 pips from the support line at 1.727. Dipping below it might indicate further losses are ahead. At 1.7378, GBP/CAD made an initial breakout below the 5 day Simple Moving Average. The upper Bollinger band was at 1.7507, indicating a further downward move might be next. Overall, looking at all the technical indicators, it seems further drawback is next for GBP/CAD

The market will be looking forward to the upcoming release of the following indicators: United Kingdom's new Nationwide HPI (MoM) data will be available tomorrow at 7:00 AM. Data is expected to decline to 0.2 from its previous value of 0.8. The United Kingdom Nationwide HPI (YoY) is projected to rise to 5.9, beating the previous 5.8 figure. Official data is expected tomorrow at 7:00 AM.

Nov. 25, 2020

After starting the day at 1.736, GBP/CAD drifts to 1.7394 (up 34 pips)

(22:45) GMT

In the meantime, USD/HKD trading around 7.7509, with no major change. After starting the session at 1.9149, GBP/NZD lost 58 pips and is trading around 1.9091.

Before this recent uptick, GBP/CAD got as close as 85 pips to the support line at 1.7296. Dipping below it might have indicated further losses are ahead. Although up today, worth noting that at 1.7388, GBP/CAD made an initial breakout below the 3 day Simple Moving Average earlier. The upper Bollinger band is at 1.75, indicating a negative correction might be next. Overall, looking at all the technical indicators, it seems a reverse of course in the short term might be next for GBP/CAD

Nov. 24, 2020

GBP/CAD drops to 1.7358 (down 69 pips) after starting the day at 1.7428

(22:45) GMT

This downslide might be related to financial indicators data published earlier, as United Kingdom Services PMI published on Monday at 9:30 AM came out at 45.8, falling short of the 52.3 projections and continuing its decline from the previous 52.3 figure. The United Kingdom Composite PMI released on Monday at 9:30 AM is better than expected at 47.4 but down from preceding data of 52.1 according to new data.

On the flip, side, data for United Kingdom Manufacturing PMI released on Monday at 9:30 AM came out at 55.2, beating projections of 53.3 and showing improvement over the preceding figure of 53.3.

At the same time, pound hit 1.338, highest rate in 2 months. The GBP/NZD is down 97 pips from the beginning of the session and now trading around 1.9245.

The GBP/CAD is getting closer and is now only 48 pips from the support line at 1.7296. Dipping below it might indicate further losses are ahead. At 1.7364, GBP/CAD made an initial breakout below the 3 day Simple Moving Average. The upper Bollinger band was at 1.7475, indicating a further downward move might be next. Overall, looking at all the technical indicators, it seems further drawback is next for GBP/CAD

The market will keep its eye on the following upcoming macroeconomics indicators: United Kingdom's Autumn Budget set for tomorrow at 3:30 PM.

Nov. 23, 2020

GBP/CAD goes back up to Aug. 10 levels, reaching 1.7497

(22:45) GMT

After opening at 1.74, GBP/CAD reached 1.7497, breaking a 3 month record. Later, it lost 77 pips and is now trading at 1.742.

The uptick comes while some more positive signs for GBP/CAD are out as the United Kingdom's Manufacturing PMI came out at 55.2, above the estimate of 53.3. This is also a step forward from the previous data of 53.3.

Nevertheless, United Kingdom Services PMI fell short of the 52.3 projections, at 45.8 and continued its downward trajectory from the previous figure of 52.3. The United Kingdom Composite PMI released today at 9:30 AM is better than expected at 47.4 but down from preceding data of 52.1 according to new data.

The GBP/CAD nearest support level is at 1.7296.

In the meantime, The GBP/NZD added 0.37% to its value, now trading at 1.9241. Oil is trading around 42.84 after starting the session at 42.42 (up 1%). The pound is trading around 1.3319 after starting the session at 1.3291 (up 0.21%). USD/HKD trades with no major change, around 7.7518.

The market is looking forward to the United Kingdom's Autumn Budget, which will be released tomorrow at 4:00 PM. United Kingdom MPC Member Haskel's speech is set for tomorrow at 11:30 AM. Canada BoC Gov Council Member Wilkins speech is scheduled to come out tomorrow at 5:45 PM.