GBP/CAD may rise to 1.7665 - 1.7774

1.7277 is our pivot point.

Our preference

As long as 1.7277 is support look for 1.7774.

Alternative scenario

Below 1.7277, expect 1.7094 and 1.6986.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.7415 and 1.7244).

Supports and resistances

1.7992 **

1.7883 *

1.7774 **

1.7665

1.7435 last

1.7348

1.7277 **

1.7094 *

1.6986 **

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