GBPCAD Analysis: The British economy is recovering more actively than the Canadian

August 31, 2020

By IFCMarkets.com

The British economy is recovering more actively than the Canadian

British GDP fell 21.7% at an annual rate in the second quarter. Canadian GDP contracted significantly more – by 38.7%. Overall, Britain’s economy fell less and is recovering more actively than Canada’s. In June, UK GDP grew by 8.7%, and Canadian – by 6.5%. Note that the possible success of the Brexit negotiations is a positive factor for the pound, while for the Canadian dollar, there is a risk factor in the possible correction of world oil prices that have been traded in a narrow range over a month

Indicator VALUE Signal
RSI Neutral
MACD Sell
MA(200) Buy
Fractals Buy
Parabolic SAR Buy
Bollinger Bands Neutral

 

Summary of technical analysis

Order Buy
Buy stop Above 1,75
Stop loss Below 1,717

Market Analysis provided by IFCMarkets.com

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