Source: PaxForex Premium Analytics Portal, Technical Insight
According to Reuters' poll of analysts, some experts still say the Bank of England is likely to raise its key interest rate from 0.10% to 0.25% as soon as its December 16 meeting.
GBP/CAD,D1
Pivot: 1.6704
Analysis:
While the price is above 1.6544, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.6704
- Take Profit 1: 1.6900
- Take Profit 2: 1.7100
Alternative scenario:
If the level 1.6544 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.6544
- Take profit 1: 1.6256
- Take Profit 2: 1.6084
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.7215 | 1.6544 |
| 1.7100 | 1.6256 |
| 1.6900 | 1.6084 |
