Source: PaxForex Premium Analytics Portal, Technical Insight
According to the latest Reuters poll from October 13-20, market analysts expect the Bank of England to be the first of the world's leading central banks to raise rates in the new post-pandemic cycle.
GBP/CAD,D1
Pivot: 1.7020
Analysis:
While the price is below 1.7208, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.7020
- Take Profit 1: 1.6854
- Take Profit 2: 1.6675
Alternative scenario:
If the level 1.7208 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.7208
- Take profit 1: 1.7453
- Take Profit 2: 1.7600
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.7600 | 1.6854 |
| 1.7453 | 1.6675 |
| 1.7208 | 1.6529 |
