GBP/CAD may rise 70 - 101 pips

1.7926 is our pivot point.

Our preference

The upside prevails as long as 1.7926 is support.

Alternative scenario

The downside breakout of 1.7926 would call for 1.7874 and 1.7843.

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 trading above both its 20 and 50 period moving average (respectively at 1.7962 and 1.7954).

Supports and resistances

1.8132 **

1.8101 *

1.8071 **

1.8040

1.7970 last

1.7946

1.7926 **

1.7874 *

1.7843 **

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