Oil is testing support
The recovery of WTI last week met resistance in the 54.60 area. The price formed a gap down on the mounting fears about the coronavirus.
GBP/CAD: technical levels
Information is not investment advice
Last week, the advance of GBP/CAD was contained by the 100-week MA at 1.71. On the D1, the pair closed yesterday below the 200-day MA at 1.6883. The pair has now room for a correction down to 1.6690 (September high) and 1.6640 (38.2% Fibo retracement of the August-October advance). The decline will be triggered if the price breaks below the 50-period MA on the H4 in the 1.6840 area. The pound’s attempts to recover from the current levels will meet resistance at 1.6935 (MAs on the H1) and 1.7000.
Elizabeth Belugina
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