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GBP/CAD chart - Trading View
Technical Analysis: Bias Bullish
- GBP/CAD was trading largely unchanged at 1.7215 at around 13:25 GMT
- The pair has paused upside at 200-DMA which is offering stiff resistance at 1.7261
- Price action is holding above 200H MA which is supporting pullbacks in the pair
- Momentum studies are bullish and volatility is rising as evidenced by widening Bollinger bands
- Decisive break above 200-DMA and daily cloud will propel the pair higher
Support levels - 1.7198 (5-DMA), 1.7173 (55-EMA), 1.7146 (21-EMA)
Resistance levels - 1.7226 (110-EMA), 1.7261 (200-DMA), 1.7293 (20-month MA)
Summary: GBP/CAD has paused upside at 200-DMA. Technical studies support upside. Decisive break above 200-DMA will propel the pair higher.
