Source: PaxForex Premium Analytics Portal, Technical Insight
Uncertainty over the Ukraine conflict will limit the potential for the Bank of England (BoE) to tighten policy despite high inflation.
GBP/CAD,D1
Pivot: 1.6877
Analysis:
While the price is below 1.7022, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.6877
- Take Profit 1: 1.6777
- Take Profit 2: 1.6630
Alternative scenario:
If the level 1.7022 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.7022
- Take profit 1: 1.7190
- Take Profit 2: 1.7310
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.7310 | 1.6777 |
| 1.7190 | 1.6630 |
| 1.7022 | 1.6518 |
