GBP/CAD may rise 42 - 63 pips

1.7736 is our pivot point.

Our preference

Rebound towards 1.7830.

Alternative scenario

The downside breakout of 1.7736 would call for 1.7701 and 1.7680.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.7767 and 1.7780).

Supports and resistances

1.7872 **

1.7851 *

1.7830 **

1.7809

1.7767 last

1.7750

1.7736 **

1.7701 *

1.7680 **

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