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country currency pairs gbpcad

Great Britain Pound vs Canadian Dollar

Great Britain Pound vs Canadian Dollar GBPCAD

The GBPCAD currency pair represents the exchange rate between the British Pound GBP and the Canadian Dollar CAD. It’s a forex pair that provides insights into the relative strengths of the UK and Canadian economies.

-.-- -.--%
Annual change
-.--%
All time High / Low
1.40831 / 2.09702
Buy

--.--

Sell

--.--

-.-
Daily price range:
Low
1.73109
High
1.74373

GBPCAD Contract Specifications

  • Minimum Spreads, points: 0
  • Contract Size per Lot: 100000
  • Swap type: Points
  • Swap Long: -3.53
  • Swap Short: -11.03
  • Margin Group: FX Majors
  • Margin Currency: GBP
  • Tick size: 0
  • Trading Platform: MetaTrader 4
  • Minimum Volume: 0.01
  • Maximum Volume: 0
  • Trading Schedule EET: 00:00 - 23:59 Mon - Fri
  • Hedged Margin: 1
  • Days Swap: FX Wednesday, metals-indices-oil friday

History of GBPCAD

The history of the GBPCAD currency pair reflects the economic and financial interactions between the United Kingdom and Canada. Over time, this pair has witnessed fluctuations influenced by various factors, including changes in economic policies, interest rates, commodity prices, geopolitical events, and global market sentiment. The United Kingdom is a major global financial center, while Canada boasts significant natural resources and a strong banking sector. These distinctions contribute to the dynamics of the GBPCAD exchange rate. Traders and investors closely monitor this pair for insights into the relative strength of the British Pound and the Canadian Dollar, making it a relevant component of the forex market.

currency pair gbpcad

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Frequently Asked Questions

GBPCAD is a forex currency pair that represents the exchange rate between the British Pound GBP and the Canadian Dollar CAD. In this pair, GBP is the base currency, and CAD is the quote currency. It tells you how much one British Pound is worth in Canadian Dollars. Traders and investors use GBPCAD to assess the relative strength of these two currencies and make informed decisions in the forex market based on economic, political, and global market factors impacting the United Kingdom and Canada.

To trade the GBPCAD currency pair, you need to open a trading account, complete any necessary identity verification, and deposit funds into your account. Next, use the broker’s trading platform to analyze the GBPCAD pair using technical and fundamental analysis. This involves studying price charts, economic indicators, news releases, and geopolitical events that can affect the exchange rate. Based on your analysis, execute buy (long) or sell (short) orders through the trading platform. Be sure to implement risk management strategies by setting stop-loss and take-profit orders to protect your capital. Monitor your positions and the market closely, and adapt your trading strategies as needed to enhance your success in trading GBPCAD.

The trading hours for GBPCAD can be found here

Popular trading strategies for the GBPCAD pair include trend following, range trading, breakout trading, and carry trade strategies. Trend-following strategies involve trading in the direction of the prevailing trend, whether it’s upward or downward. Range trading focuses on profiting from price oscillations within a defined range, buying near support levels and selling near resistance levels. Breakout trading aims to capitalize on price movements when the exchange rate breaks significant support or resistance levels. Carry trade strategies involve borrowing in a currency with a low-interest rate (like the Canadian Dollar) and investing in a currency with a higher interest rate (like the British Pound), earning profits from the interest rate differential. Traders often choose strategies that align with their trading style and risk tolerance.

When trading the GBPCAD pair, consider factors such as economic indicators from the United Kingdom and Canada, central bank policies, commodity prices, geopolitical events, and broader market sentiment. Economic data like GDP, employment figures, inflation rates, and manufacturing data in both countries can significantly impact the exchange rate. Monitor the monetary policies of the Bank of England and the Bank of Canada, as interest rate decisions and statements can influence trader sentiment. Be aware of geopolitical developments and overall market sentiment, as these factors can also play a role in GBPCAD’s price movements. Staying informed and conducting thorough analysis is essential for successful trading in this currency pair.