Source: PaxForex Premium Analytics Portal, Technical Insight
Pill, Bank of England: Current economic activity may be slightly stronger than expected.
GBP/CAD,D1
Pivot: 1.6261
Analysis:
While the price is above 1.6100, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.6261
- Take Profit 1: 1.6385
- Take Profit 2: 1.6550
Alternative scenario:
If level 1.6100 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.6100
- Take profit 1: 1.5980
- Take Profit 2: 1.5820
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.6700 | 1.6100 |
| 1.6550 | 1.5980 |
| 1.6385 | 1.5820 |
