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GBP/CAD 4H Chart: Bears market

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralBuyBuy
Stochastic(5;3;3)BuyNeutralBuy
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellSell
Aggregate⇘⇘⇒

[ANNOUNCE]The Pound Sterling traded sideways against the Canadian Dollar during last week's trading sessions. The 50-hour simple moving average provided resistance for the pair at 1.6434.[/ANNOUNCE]

Everything being equal, it is likely that the GBP/CAD currency pair continues its decline within this week's trading sessions. The possible target for bearish traders will be near a support cluster formed by the combination of the weekly and the monthly PPs at 1.6237.

If the support cluster as mentioned earlier holds, a reversal north could occur during next week's trading sessions.

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