GBP/CAD may rise 79 - 110 pips

1.7866 is our pivot point.

Our preference

The upside prevails as long as 1.7866 is support.

Alternative scenario

The downside breakout of 1.7866 would call for 1.7814 and 1.7784.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7874 and 1.7896). Finally, the GBP/CAD is trading above its upper Bollinger band (standing at 1.7903).

Supports and resistances

1.8081 **

1.8050 *

1.8020 **

1.7989

1.7910 last

1.7886

1.7866 **

1.7814 *

1.7784 **

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