| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Buy | Neutral |
| Stochastic (5; 3) | Sell | Neutral | Neutral |
| Alligator (13; 8; 5) | Sell | Sell | Sell |
| SAR (0.02; 0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇒ |
The British Pound is headily loosing value against the Canadian Dollar in a one week long vertical descending channel. Formation of the pattern reflected reaction of traders on two fundamental events that happened on July 7 and 12, i.e. announcement of the Canadian unemployment rate and the overnight interest rate. By the moment, the pattern already has two confirmation points from the top and two from the bottom. Given its narrow shape, the breakout might occur already in the second half of the day. But even if it happens, the surge most probably is going to be limited by the monthly S1 at 1.6565. Moreover, the northern passage is additionally protected by the 55- and 100-hour SMAs. Therefore, the rate is expected to keep the general descending direction.