Source: PaxForex Premium Analytics Portal, Technical Insight
Canada: annual CPI jumped to a 39-year high of 7.7% in May.
GBP/CAD,D1
Pivot: 1.5847
Analysis:
While the price is below 1.5790, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.5847
- Take Profit 1: 1.6000
- Take Profit 2: 1.6200
Alternative scenario:
If the level 1.5790 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.5790
- Take profit 1: 1.5630
- Take Profit 2: 1.5500
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.6300 | 1.5790 |
| 1.6200 | 1.5630 |
| 1.6000 | 1.5500 |
