Source: PaxForex Premium Analytics Portal, Technical Insight
Nagel, ECB: the Central Bank intends to make a decision in June.
GBP/CAD,D1
Pivot: 1.6430
Analysis:
While the price is below 1.6720, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.6430
- Take Profit 1: 1.6300
- Take Profit 2: 1.6200
Alternative scenario:
If the level 1.6720 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.6720
- Take profit 1: 1.6870
- Take Profit 2: 1.7000
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.7000 | 1.6300 |
| 1.6870 | 1.6200 |
| 1.6720 | 1.6150 |
