GBP/CAD may rise 36 - 52 pips

Our pivot point is at 1.7436.

Our preference

The upside prevails as long as 1.7436 is support.

Alternative scenario

The downside breakout of 1.7436 would call for 1.7410 and 1.7394.

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 1.7439 and 1.7434).

Supports and resistances

1.7542 **

1.7527 *

1.7511 **

1.7495

1.7459 last

1.7447

1.7436 **

1.7410 *

1.7394 **

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