Source: PaxForex Premium Analytics Portal, Technical Insight
The Bank of England's drive to fight inflation may be premature and counterproductive.
GBP/CAD,D1
Pivot: 1.7196
Analysis:
While the price is above 1.6772, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.7196
- Take Profit 1: 1.7250
- Take Profit 2: 1.7584
Alternative scenario:
If the level 1.6772 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.6772
- Take profit 1: 1.6408
- Take Profit 2: 1.6192
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.7802 | 1.6772 |
| 1.7584 | 1.6408 |
| 1.7250 | 1.6192 |
