GBP/CAD may rise to 1.8436 - 1.8636

Our pivot point stands at 1.7756.

Our preference

As long as 1.7756 is support look for 1.8636.

Alternative scenario

The downside breakout of 1.7756 would call for 1.7420 and 1.7220.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.7938 and 1.7804).

Supports and resistances

1.9036 **

1.8836 *

1.8636 **

1.8436

1.8025 last

1.7888

1.7756 **

1.7420 *

1.7220 **

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