GBP/CAD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
This currency pair keeps treading water inside the area of multiple moving average lines that are joined by the weekly and monthly pivot points between 1.8306 and 1.8365. As soon as GBP/CAD escapes this zone, the Sterling will be in a good position for growth against the Canadian Dollar, with the ultimate bullish target placed at 1.8564. There the pair is going to encounter the pair's upper boundary and should commence a correction lower. Short-term gains are indicated by 4H technical indicators, while daily ones are pointing to the south. Meanwhile, the SWFX market's sentiment is 73% long, meaning in the long-term the pair is at risk of confirming the pattern to the downside at 1.8266.
© Dukascopy Bank SA
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