Source: PaxForex Premium Analytics Portal, Technical Insight
The Bank of England will be more dovish in August - Morgan Stanley.
GBP/CAD,D1
Pivot: 1.6125
Analysis:
While the price is above 1.5950, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.6125
- Take Profit 1: 1.6200
- Take Profit 2: 1.6300
Alternative scenario:
If the level 1.5950 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.5950
- Take profit 1: 1.5800
- Take Profit 2: 1.5700
Comment:
RSI shows the possibility of an uptrend in the medium term
Key levels:
| Resistance | Support |
| 1.4510 | 1.5955 |
| 1.6300 | 1.5800 |
| 1.6200 | 1.5800 |
