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: