GBP/CAD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The British Pound has rallied versus the Canadian Dollar for the last 116 hours forming a channel up pattern on November 20. Since November 27 the pair unremittingly followed the upper boundary of the pattern that may be a sign that the pair is strong enough to try to penetrate this level before long. A couple of hour ago, GBP/CAD hit the highest level since 2009 that lies on the upper limit of the pattern and given that market players are bullish on the currency pair in 78.13% of cases, we may see a bullish breakout in the hours to come.
© Dukascopy Bank SA
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