Source: PaxForex Premium Analytics Portal, Technical Insight
Bank of England, Dhingra: The weakening sterling does not help British exports.
GBP/CAD,D1
Pivot: 1.5665
Analysis:
While the price is above 1.5600, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.5665
- Take Profit 1: 1.5850
- Take Profit 2: 1.6000
Alternative scenario:
If the level 1.5600 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.5600
- Take profit 1: 1.5480
- Take Profit 2: 1.5400
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
Resistance | Support |
1.6100 | 1.5480 |
1.6000 | 1.5400 |
1.5850 | 1.5350 |