Dear Trader,

1st of January 2022 onwards, Vantage will be using the new domain vantagemarkets.com.

While vantagefx.com is still live, we encourage you to update your bookmarked URL, email address book, marketing hyperlinks, and visit vantagemarkets.com for the most up-to-date notifications, contents, promotions and queries support.

Do take note that as of 1st of February 2022, vantagefx.com will no longer be online.

Should you have any questions or require assistance from our team, feel free to reach out to us at [email protected]

What’s GBPCAD Going to do Here?

   

G’day Traders,
I hope you all had an awesome weekend!

As shown in the weekly chart below, it looks as though something is on the horizon for GBPCAD as price lingers around some pretty heavy resistance.

We’re presented with two possible scenarios – Price either gets rejected, or we see price breaking through resistance. Let’s go down to a daily chart for further analysis.

It looks as though momentum has slowed significantly at our resistance area, which is holding for now. If price can break through our minor support area of 1.75ish we could possibly see a move to 1.73 where it would likely encounter more support, or even a further move through to the 1.68 area. A suitable stop loss area could be just above the recent high, presenting a good R:R ratio. The alternative possibility is that price breaks through resistance.

I will be watching to see how things progress from here.

Have a great week in the markets, traders.

Austen P – Vantage

 

Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by Vantage Pty Ltd does not contain a record of our prices or solicitation to trade. All opinions, news, research, tools, prices or other information is provided as general market commentary and marketing communication – not as investment advice. Consequently, any person acting on it does so entirely at their own risk. The expert writers express their personal opinions and will not assume any responsibility whatsoever for the forex trading account of the reader. We always aim for maximum accuracy and timeliness, and Vantage shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on this service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.

Fast & easy account opening

  • Register

    Choose an account type and submit your application

  • Fund

    Fund your account using a wide range of funding methods.

  • Trade

    Access 300+ CFD instruments across all asset classes on MT4 / MT5

That's it, it's that easy to open a Forex and CFD trading account.
Welcome to the world of trading!
open live account