How to trade
GBP/CAD

The GBPCAD currency pair, often called the “Loonie cross,” is an engaging forex pair that connects the British economy’s global reach with Canada’s commodity-rich landscape. Understanding this connection is essential to know how to trade GBPCAD.

How to trade GBPCAD?

Trading GBPCAD demands an understanding of the complex economic relationship between the UK, with its significant financial services industry, and Canada, where natural resources like oil strongly influence the economy. For everyone eager to start and learn how to trade GBPCAD, SimpleFX provides a demo account. It enables traders to delve into the British-Canadian economies without financial risk.

After switching to a live account, investors can experience trading without minimum deposit and trade commissions. Moreover, the SimpleFX platform gives access to tools enabling conducting technical and fundamental analysis.

What is the best time to trade GBPCAD?

Even though the forex market is available 24/5, some periods are more favorable for GBPCAD trading.

There is a noticeable time window of enhanced liquidity when the London Stock Exchange and the New York Stock Exchange overlap. Excluding rare exceptions, this period stands between 1 PM and 5 PM GMT. Navigating this window, traders may experience increased market activity, but they must always stay alert to the volatility inherent in peak times.

Is the GBPCAD price going up or down?

It is impossible to predict future price movements of GBPCAD due to the number of factors influencing its fluctuations. That includes tracking the Bank of England and the Bank of Canada’s policy announcements, oil price trends, geopolitical events, and changes in global trade patterns.

The unpredictability of the market means even well-researched decisions carry inherent risks, which drives investors to stay updated all the time.

Investors can check the current GBPCAD price on the chart above or the SimpleFX Webtrader platform.

Is GBPCAD a popular currency pair?

While GBPCAD may not be as widely traded as major pairs, it holds considerable interest among forex traders, particularly those focusing on commodity currencies or looking for alternatives to diversify their portfolios. GBPCAD can offer substantial moves that reflect broader economic trends, especially for the impact of the natural resource markets.