GBP/CAD 4H Chart: Bullish momentum to continue

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

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

The British Pound has gained about 3.91% of its values against the Canadian Dollar since mid-January. The currency pair reversed from a low level of 1.6750 on January 11 and followed by an upside wave.

The exchange rate breached the upper boundary of a dominant descending channel pattern on Friday. 

Most likely, it is expected the Pound Sterling continues its upward momentum during the following trading sessions.

However, a resistance cluster formed by the weekly and the monthly PPs at 1.7639 could provide a significant resistance for the currency exchange rate in the short-term.

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