Source: PaxForex Premium Analytics Portal, Technical Insight
BoE's Bailey: UK labour market much more constrained than we thought.
GBP/CAD,D1
Pivot: 1.6226
Analysis:
While the price is above 1.5800, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.6226
- Take Profit 1: 1.6400
- Take Profit 2: 1.6600
Alternative scenario:
If level 1.5800 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.5800
- Take profit 1: 1.5570
- Take Profit 2: 1.5300
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.6800 | 1.5800 |
| 1.6600 | 1.5570 |
| 1.6400 | 1.5300 |
