GBP/CAD may rise 60 - 80 pips

Our pivot point stands at 1.7360.

Our preference

The upside prevails as long as 1.7360 is support.

Alternative scenario

Below 1.7360, expect 1.7327 and 1.7308.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7353 and 1.7346).

Supports and resistances

1.7507 **

1.7487 *

1.7468 **

1.7448

1.7388 last

1.7373

1.7360 **

1.7327 *

1.7308 **

Number of asterisks represents the strength of support and resistance levels.