GBPCAD Chart Technical Outlook stalls July’s high ahead of UK and Canada data due tomorrow, GBP/CAD broad bias is bullish, but prices stalled at a previous swing high of July at 1.7335, showing bearish divergence on the 4H RSI.
I expect the pair to correct lower ahead of tomorrow’s data of UK Manufacturing and Services PMI (soft expectations) and Canadian Retail sales (strong expectations) – buying the rumor.
Dips should find buyers, as the BoE can be more hawkish than the BoC.
Resistances: 1.7335, 1.7400
Supports: 1.7200, 1.7110