Source: PaxForex Premium Analytics Portal, Technical Insight
Analysts expect the Bank of Canada rate hike of 75 basis points next week.
GBP/CAD,D1
Pivot: 1.5253
Analysis:
While the price is below 1.5500, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.5253
- Take Profit 1: 1.5200
- Take Profit 2: 1.5100
Alternative scenario:
If level 1.5500 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.5500
- Take profit 1: 1.5650
- Take Profit 2: 1.5810
Comment:
RSI shows the possibility of a downtrend in the medium term
Key levels:
| Resistance | Support |
| 1.5810 | 1.5200 |
| 1.5650 | 1.5100 |
| 1.5500 | 1.5000 |
