GBP/CAD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
From a technical perspective, the outlook on GBP/CAD is strongly bearish. For one, the currency pair confirmed resistance at 1.92 in the second half of May, which is the 38.2% retracement of the January-April sell-off. In addition, the up-trend support line that was established in April has just been broken, along with the 200-period SMA.

There is a high probability of a near-term rebound from 1.85 on profit-taking, since the currency pair has just realised the full potential of the head and shoulders pattern. However, our target is the April low at 1.81, and the recovery should be capped by a solid supply area near 1.87.
© Dukascopy Bank SA
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Tue, 07 Jun 2016 06:11:58 GMT

GBP/AUD 4H Chart: Channel Down

Unlike in GBP/CAD, there are good reasons why we the Sterling may not re-visit April's low versus the Australian Dollar any time soon. The main argument against a decline in GBP/AUD is a major trend-line at 1.9370. It was in fact broken last month, but considering the important role it had played for seven months starting from last year's August,

Mon, 06 Jun 2016 14:21:05 GMT

GBP/NZD 1H Chart: Channel Down

The Pound entered in a channel down pattern against the New Zealand Dollar on May 31. At the moment the currency exchange rate is at 2.0799 and is close to reaching the upper trend-line at 2.0850. Its movement is also supported by the first daily support at 2.0762, which is just below the current price. However, if the pair does

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