Source: PaxForex Premium Analytics Portal, Technical Insight
Britain saw the most widespread house price falls since early in the COVID-19 pandemic last month, as demand from buyers and sales activity slowed in the face of higher borrowing costs.
GBP/CAD,D1
Pivot: 1.6665
Analysis:
While the price is above 1.6360, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.6665
- Take Profit 1: 1.6800
- Take Profit 2: 1.7000
Alternative scenario:
If level 1.6360 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.6360
- Take profit 1: 1.6085
- Take Profit 2: 1.5850
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.7200 | 1.6360 |
| 1.7000 | 1.6085 |
| 1.6800 | 1.5820 |
