Source: PaxForex Premium Analytics Portal, Technical Insight
NIESR: British CPI is expected to peak at 5% in Q2 2022.
GBP/CAD,D1
Pivot: 1.6779
Analysis:
While the price is below 1.7116, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.6779
- Take Profit 1: 1.6700
- Take Profit 2: 1.6549
Alternative scenario:
If the level 1.7116 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.7116
- Take profit 1: 1.7379
- Take Profit 2: 1.7536
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.7536 | 1.6700 |
| 1.7379 | 1.6549 |
| 1.7116 | 1.6392 |
