Note: This section contains information in English only.GBP/CAD entered a flattish motion south over the last couple of weeks, sketching a descending channel on the way. The pattern shows no signs of weakness, meaning that we will look for the rate to maintain the bearish path both long and short-term, setting the bottom boundary as the next target at 1.6476. Immediate support lies at 1.6527 and then 1.6502 and both levels are strong enough to mess with the momentum for a smooth fall. The 55 and 100-period SMAs provide a cap from the upside and we do not expect a surge in the nearest future.
Fri, 30 Dec 2016 08:50:07 GMT
Source: Dukascopy Bank SA