| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Buy |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇒ |
The Canadian Dollar has been appreciating against the Pound Sterling since the beginning of May after the currency pair made a U-turn from the upper boundary of a descending channel pattern at 1.7733.
As for the near future, it is likely that the GBP/CAD exchange rate could aim for the upper border of the channel pattern at 1.6569.
If the resistance level formed by the upper channel line holds, the currency exchange rate will continue to trade south in the nearest future.
However, if a breakout occurs, a surge towards the 200-hour simple moving average at 1.6824 might be the next target for bulls.