| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The British Pound has declined by 199 pips or 1.15% against the Canadian Dollar since October 1. The currency pair tested the lower boundary of an ascending channel pattern at 1.7050 on October 9.
Given that the exchange rate has bounced off the bottom border of the ascending channel, bullish traders are likely to pressure the GBP/CAD pair higher during the following trading sessions.
However, a resistance cluster formed by the 50– and 200– period SMAs at 1.7159 could provide resistance for the currency exchange rate in the shorter term.