Supports and resistances are primary concepts of technical analysis. GBP/CAD is heading for an important price of 1.7185 – read about what this could mean for the future.

GBP/CAD is on the approach
GBP/CAD is moving towards a line of 1.7185 which it has tested numerous times in the past. We have seen it retrace from this position in the past, so at this stage it isn’t clear whether it will breach this price or rebound as it did before. If GBP/CAD continues in its current trajectory, we may see it move towards 1.7185 within the next 2 days.

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