Source: PaxForex Premium Analytics Portal, Technical Insight
While the BoE is expecting a “gradual” CPI decline, head of market analysis at Brewin Dolphin Janet Mui said inflation was likely to slow “sharply” in 2023.
GBP/CAD,D1
Pivot: 1.6352
Analysis:
While the price is below 1.6500, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.6352
- Take Profit 1: 1.6085
- Take Profit 2: 1.5820
Alternative scenario:
If level 1.6500 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.6500
- Take profit 1: 1.6700
- Take Profit 2: 1.6850
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.6850 | 1.6085 |
| 1.6700 | 1.5820 |
| 1.6500 | 1.5700 |
