Source: PaxForex Premium Analytics Portal, Technical Insight
The UK's April CPI data surprised to the upside, with headline inflation and energy prices receding less than expected.
GBP/CAD,D1
Pivot: 1.6794
Analysis:
While the price is above 1.6650, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.6794
- Take Profit 1: 1.7150
- Take Profit 2: 1.7400
Alternative scenario:
If level 1.6650 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.6650
- Take profit 1: 1.6410
- Take Profit 2: 1.6245
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
Resistance | Support |
1.7500 | 1.6650 |
1.7400 | 1.6410 |
1.7150 | 1.6240 |