GBP/CAD Price Analysis: Bears waiting for break of key support

GBP/CAD bears looking for confirmation of the downside prospects.
Bullish conditions still persist until certain conditions evolve.

Ross J Burland FXStreet

GBP/CAD has run into a key resistance on the weekly chart and is primed for a rin to the downside to fill in a monthly wick.

Bears will be looking for 4-hour confirmations and the following illustrates how to get there, starting with the monthly chart:

Monthly chart

The weekly chart to fill in the monthly wick

The price is being resisted at a key level and is ripe for a short.

Daily chart has more price development to go

4-hour chart

Bears will want to see bearish conditions on the charts and for that, we need to see the RSI lower and the price break below the 21 moving average.

The most important aspect is price will need to get below the support structure and on a retest of the area, find that there are bearish commitments.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD retreats below 1.1800 as EU-US trade relations sour

EUR/USD loses its traction and retreats below 1.1800 following the earlier climb. The data from Germany highlighted a modest improvement in business sentiment in February but failed to help the Euro as investors assess the US-EU trade relations following Trump's global tariff hike announcement.

GBP/USD rises toward 1.3550 as tariff confusion slams USD

GBP/USD extends the advance toward 1.3550 on Monday. The US Dollar faces intense selling pressure as tariff uncertainty lingers following US President Trump's latest announcement. Traders will take more cues from the broader market sentiment and central bank talks.

Gold climbs above $5,100 on broad USD weakness

Gold sticks to its bullish bias near the monthly above $5,100 on Monday. Renewed trade-war fears, along with rising geopolitical tensions in the Middle East, turn out to be key factors that underpin the safe-haven precious metal and validate the constructive outlook.

Cardano braces for impact as US tariff storm brews

Cardano is down 4% at press time on Monday, entering its third consecutive day of decline. Bearish bias in Cardano’s derivatives market positional buildup aligns with rising pressure on the broader cryptocurrencymarket amid US President Donald Trump's reassessment of global tariffs and domestic conflict with the US Supreme Court.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.