Source: PaxForex Premium Analytics Portal, Technical Insight
Canada: annual CPI rose 5.7% in February compared to the forecast of 5.5%.
GBP/CAD,D1
Pivot: 1.6690
Analysis:
While the price is below 1.6950, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.6690
- Take Profit 1: 1.6630
- Take Profit 2: 1.6450
Alternative scenario:
If the level 1.6950 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.6950
- 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 | 1.6630 |
| 1.7190 | 1.6450 |
| 1.6950 | 1.6370 |
