GBP/CAD may rise to 1.8428 - 1.8611

ST: the upside prevails as long as 1.7801 is support

Our pivot point stands at 1.7801.

Our preference

The upside prevails as long as 1.7801 is support.

Alternative scenario

Below 1.7801, expect 1.7493 and 1.7310.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7838 and 1.7707).

Supports and resistances

1.8978 **

1.8795 *

1.8611 **

1.8428

1.8049 last

1.7922

1.7801 **

1.7493 *

1.7310 **

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

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