Source: PaxForex Premium Analytics Portal, Technical Insight
Today's FX highlight will be the UK's Autumn Statement. Given that the UK's bond market has largely regained its composure from the sell-off in September, analysts at ING struggle to see what upside there is for the Sterling today.
GBP/CAD,D1
Pivot: 1.5883
Analysis:
While the price is above 1.5580, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.5883
- Take Profit 1: 1.6000
- Take Profit 2: 1.6200
Alternative scenario:
If level 1.5580 is broken-down, follow the recommendations below
- Time frame: D1
- Recommendation: short position
- Entry point: 1.5580
- Take profit 1: 1.5340
- Take Profit 2: 1.5160
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.6300 | 1.5580 |
| 1.6200 | 1.5340 |
| 1.6000 | 1.5160 |
