GBP/CAD 4H Chart: Could edge higher

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyNeutralSell
SAR(0.02;0.2)BuyBuyBuy
Aggregate⇗⇗⇒

[ANNOUNCE]After a sharp decline during the end of August, the Pound Sterling is gradually gaining strength against the Canadian Dollar. The currency pair appreciated about 2.13% in value during last week's trading sessions.[/ANNOUNCE]

As for the near future, the exchange rate will most likely continue its bullish momentum. Bullish traders might target a resistance level formed by the weekly R2 at 1.6537.

Although, a resistance cluster set by the weekly R1 and the monthly R1 near the 1.6400 regions could hinder the bullish movement within this week's trading sessions.

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