Source: PaxForex Premium Analytics Portal, Technical Insight
The Bank of England to raise rates by 15bp today. - Bank of America.
GBP/CAD,D1
P
ivot: 1.6960
Analysis:
While the price is above 1.6685, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.6960
- Take Profit 1: 1.7100
- Take Profit 2: 1.7239
Alternative scenario:
If the level 1.6685 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.6685
- Take profit 1: 1.6429
- Take Profit 2: 1.6277
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.7392 | 1.6685 |
| 1.7239 | 1.6429 |
| 1.7100 | 1.6277 |
