GBP/CAD | British Pound to Canadian Dollar Trading Analysis
GBP/CAD | British Pound to Canadian Dollar Trading Analysis
Written by: PaxForex analytics dept - Thursday, 11 August 2022 0 comments
Source: PaxForex Premium Analytics Portal, Technical Insight
BofA, Pill: Wage growth is going too fast at the moment.
GBP/CAD,D1
Pivot: 1.5591
Analysis:
While the price is below 1.5680, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.5591
- Take Profit 1: 1.5340
- Take Profit 2: 1.5200
Alternative scenario:
If level 1.5680 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.5680
- Take profit 1: 1.5810
- Take Profit 2: 1.5940
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
Resistance | Support |
1.5940 | 1.5340 |
1.5810 | 1.5200 |
1.5680 | 1.5100 |