Source: PaxForex Premium Analytics Portal, Technical Insight

Bank of Canada, Macklem: We may raise the rate sooner than previously thought.

GBP/CAD,D1

Pivot: 1.6982

Analysis:

While the price is below 1.7208, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.6982
• 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: