During Fridays trading session GBP/CAD traded within the range of 1.8281-1.8409 and closed at 1.8344, losing 0.32% for the day and 0.14% for the week.
Fundamental view
Rightmove is expected to release official data on its UK house price index for July at 23:01 GMT on Sunday. In June, UK house prices jumped 7.7% compared to the same period ago.
The index presents the results of a monthly survey of real estate prices announced by vendors. It observes the changes in house prices on a monthly and annual basis, providing an overview of the current state of the property market in England and Wales. The index is published on Rightmove.co.uk. This is the percentage change in the index over the corresponding month a year earlier.
Technical analysis
The central pivot point is 1.8345. According to Binary Tribune’s daily analysis, in case GBP/CAD manages to breach the first resistance level at 1.8408, it will probably continue up to test 1.8473. In case the second key resistance is broken, the pair will probably attempt to advance to 1.8536.
If GBP/CAD manages to breach the first key support at 1.8280, it will probably continue to slide and test 1.8217. With this second key support broken, the movement to the downside will probably continue to 1.8152.
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