GBP/CAD 4H Chart: Potential target at 1.6963

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Neutral Buy Sell
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The Pound Sterling has been trading in a two-week ascending channel against the Canadian Dollar. The currency pair made a U-turn north from the lower boundary of the channel on October 3.

The exchange rate opens below a support cluster formed by the combination of the weekly and the monthly PPs at 1.7089 during Monday's session.

As for the short-term future, it is expected for the currency exchange rate to aim at the three SMAs located near the 1.6963 within this session.

On the other hand, the GBP/CAD pair could fills the open gap north at 1.7115 during the following trading session.

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