GBP/CAD may fall 32 - 47 pips

Our pivot point is at 1.7526.

Our preference

The downside prevails as long as 1.7526 is resistance.

Alternative scenario

Above 1.7526, look for 1.7552 and 1.7567.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.7505 and 1.7499).

Supports and resistances

1.7567 **

1.7552 *

1.7526 **

1.7516

1.7499 last

1.7467

1.7452 **

1.7437 *

1.7422 **

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