Source: PaxForex Premium Analytics Portal, Technical Insight
Britain’s finance ministry said on Wednesday it will launch a review into how investor research on companies could be improved to attract more listings, a step that follows a decision by UK chip designer Arm Ltd to only list in New York, reported Reuters.
GBP/CAD,D1
Pivot: 1.6356
Analysis:
While the price is above 1.6100, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.6356
- Take Profit 1: 1.6550
- Take Profit 2: 1.6700
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 |
| 1.6800 | 1.6100 |
| 1.6700 | 1.5980 |
| 1.6550 | 1.5820 |
