GBP/CAD Price Forecast: Breaks back above legacy trendline as trend turns higher
Source Fxstreet
- GBP/CAD rises back above an old trendline and extends its rally.
- The pair extends its rally within a medium and long-term rising channel.
GBP/CAD looks like it has bottomed out and is once more rising within a broader rising channel.
The pair was falling in a down leg, however, it has probably reversed and started a new uptrend. Given the principle that “the trend is your friend” the odds favor more upside to come.
GBP/CAD 4-hour Chart
Although the pair broke below an important trendline (“Trendline A” on chart) on October 3. It quickly bottomed out and has since recovered. Now it has also broken back above the same trendline, reversing the short-term downtrend in the process.
The Moving Average Convergence Divergence (MACD) indicator is now above the zero line adding further bullish evidence to the chart.
GBP/CAD is further supported by the fact that it is in medium and longer-term uptrending cycles.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
China's factories are pricing in 5.7%. Its shoppers are pricing in 0.7%.China's October PPI rose 5.7% year on year, the fastest since June 2022, while CPI slowed to 0.7% and core CPI to 0.8%. Input prices rose faster than factory-gate prices, squeezing mid-stream margins by roughly five percentage points. The Hang Seng fell 0.13% on a day the S&P 500 rose 2.35%, the only major market to sit out the risk-on session.
China's October PPI rose 5.7% year on year, the fastest since June 2022, while CPI slowed to 0.7% and core CPI to 0.8%. Input prices rose faster than factory-gate prices, squeezing mid-stream margins by roughly five percentage points. The Hang Seng fell 0.13% on a day the S&P 500 rose 2.35%, the only major market to sit out the risk-on session.
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 11, 2026. Read on for the details.
On November 12, gold prices (XAUUSD) extended their recent losses, falling further below $4,000 in early Asian trading to hit an intraday low near $3,968, marking a third consecutive day
Gold closed below $4,000 again — the ETF crowd and central banks stayed, the momentum money leftSpot gold is trading near $3,999, its third consecutive lower daily low, after a 5.00% 10-year yield and a 102.85 dollar index raised the odds of a December hike to 87%. But the selling is not coming from the strategic holders: managed-money net longs fell to 324 tonnes, a 21-week low, and Goldman Sachs attributes roughly 95% of five weeks of selling to non-reportable positions. ETFs still hold a record 4,256 tonnes and central banks bought 321 tonnes in Q3. The table below sets the triggers, directions and levels.
Spot gold is trading near $3,999, its third consecutive lower daily low, after a 5.00% 10-year yield and a 102.85 dollar index raised the odds of a December hike to 87%. But the selling is not coming from the strategic holders: managed-money net longs fell to 324 tonnes, a 21-week low, and Goldman Sachs attributes roughly 95% of five weeks of selling to non-reportable positions. ETFs still hold a record 4,256 tonnes and central banks bought 321 tonnes in Q3. The table below sets the triggers, directions and levels.
US October PPI Preview: Fed Rate Hike Expectations Rise, PPI May Be Key Variable; How Will US Stocks, Dollar, and Gold Move?On Friday (Nov. 13) Eastern Time, the U.S. will release the October Producer Price Index (PPI). Following the October CPI once again exceeding expectations, the market will look to the PP
On Friday (Nov. 13) Eastern Time, the U.S. will release the October Producer Price Index (PPI). Following the October CPI once again exceeding expectations, the market will look to the PP
Related Instrument
