GBP/CAD 4H Chart: Bears market

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)SellSellNeutral
SAR(0.02;0.2)SellBuySell
Aggregate

The Pound Sterling traded sideways against the Canadian Dollar during last week's trading sessions. The currency pair has been trading along with the 50-hour simple moving average since last week.

A breakout is likely to occur during the following trading sessions. Technical indicators suggest a southern breakout.

Furthermore, given that the 50-, 100– and 200-hour simple moving averages are above the price level, bears could push the currency exchange rate towards a support level formed by the weekly S3 at 1.6842 in the shorter term.

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