GBP/CAD – Currency exchange rate forecast 06.06.2019: rebound

GBP/CAD - Currency exchange rate forecast 06.06.2019: rebound

Our preference: rebound.

Our pivot point stands at 1.6955.

Our preference: rebound.

Alternative scenario: below 1.6955, expect 1.6884 and 1.6842.

Comment: the RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the pair is trading above its 20 MA (1.7015) but under its 50 MA (1.7021).

Supports and resistances:

1.7231 **

1.7189 *

1.7147 **

1.7105

1.7021 last

1.6982

1.6955 **

1.6884 *

1.6842 **