The GBP / CAD signals are sought by those traders who have either been trading this pair for a long time or are just starting out. In order to get the right GBP / CAD signals, you must first understand this pair and its characteristics more broadly.
Let’s start with the simplest.
What is the GBP / CAD Signals?
This is a currency pair that bases its relative value on the trading ratio of the British pound against the Canadian dollar. At the price of this pair you can find how many Canadian dollars are needed to buy a British pound. The British pound becomes the base currency.
We are facing two currencies that are quite powerful since they are backed by economies that are highly developed and that are also quite stable.
GBP / CAD historical overview
When it comes to the pound sterling, it dates back to about 775 years ago. Its evolution started from the decimalization of 1971.
This is considered the fourth most traded currency in the market and also has a significant number of daily operations worldwide.
Now, let’s go with the CAD. It all started in the early 1850s, when they went from using the colonial pound to the decimal Canadian dollar. These currencies are also known worldwide as “Loonie”.
The GBP and what influences it
In order to understand what things affect GBP / CAD Signals, it is important to break down each currency. If we talk about factors that influence the GBP we can find:
- Global performance: This refers to the very performance of the UK economy towards the world.
- GDP Reports: The reports on the gross domestic product are published monthly and represent an important factor in the movements of the GBP.
- The price of the pound sterling: it is affected by monetary policies and the price change orchestrated by the central bank. That is, if the bank considers inflation to be too fast, then it will look for a way to control the increase. As an additional piece of information, it is important to note that interest rates may rise.
Factors influencing CAD
Now, let’s delve a little deeper into what noise makes influences CAD stability.
- The Bank of Canada: this is undoubtedly the main factor, since all decisions made by the bank or any movement can drastically change the price of CAD. It is extremely important to understand that this bank enacts policies that promote economic growth and also employment.
- Exports of basic products: Canada has become a great exporter of materials and raw materials, such as wood, minerals, oil, grains, among others.
This type of business is responsible for strengthening the import and export industry in Canada.
Common factors affecting the GBPCAD pair
Once we understand that it affects each currency separately, it is important to understand the factors that can directly influence the pair.
By understanding the full pair in this way, you can better understand the GBP / CAD Signals.
- Various claims: understood by this political claim made by the governments of Canada and the United Kingdom.
- Commodity prices
- Changes in world politics.
- Economic markers: among these we can find aspects such as inflation, also interest rates and, of course, consumer confidence.
- Important news: any news or political statements will directly affect the rise and fall of GBP / CAD prices.
Trading GBP / CAD
Normally when looking for GBP / CAD signals it is because you are looking for methods to trade this pair at the same time. So a trader can trade this pair through a forex contract or it can also be with a CFD. Normally, this CFD is going to have its focus on a particular currency pair.
A CFD is defined as a financial instrument which is controlled by a broker and investor, from which one part of the contract agrees to pay the other an amount defined by the difference in value given between the start and end of the operation.
In general, the GBP / CAD is a very stable and prosperous pair, they do not represent any difficulty in their trade or in receiving telegram signals from GBP / CAD.
On any exchange platform you can trade the pair and you can get benefits from it.
GBP / CAD Signals
GBP / CAD signals have become a help tool for the daily trader. Getting those signals is pretty straightforward and using them is even easier.
We have compiled a number of different providers offering signals for the GBP / CAD pair.
Learn 2 trade
This is one of those signal providers that are on top of everyone. This is a team that is responsible for supporting your customers with incredible signals that are 92% accurate.
This provider has the ability to provide signals for different pairs of cryptocurrencies such as the GBP / CAD pair.
The platform design of this pair is ideal for beginners, any trader can handle it. Its platform is highly informative, it has analysis and also news about currencies and cryptocurrencies. Its customer service is available 24/7 and it also delivers signals via telegram.
This is another one of those providers that you will find in all tops due to its fame and good reviews and services. This is a provider that is extremely beginner friendly and with it you can get acquainted with the pair you are trading, in this case GBP / CAD.
There are also advanced trading strategies, including copy trading.This provider exists since 2012. Here the customer could even access live trading and have customer service that is available all day.
GBP/CAD signals summary
GBP / CAD signals are important since trading such a pair is a big step in a trader’s career. For that very reason, finding a good provider and making good use of signals is of utmost importance.
You should always remember that when you receive a signal, reviewing the analysis it brings will always be something you should do in detail. Only in this way can you evaluate a signal well. Remember that your path to success is guided by all the effort, study and dedication you put into the race and while you can use tools that help you improve, you will rise as a foam among so many professionals.