GBP/CAD 4H Chart: Tests 50-period SMA

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)BuyNeutralSell
Alligator(13;8;5)NeutralBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate⇒⇗⇘

[ANNOUNCE]The Pound Sterling has been trading in a junior ascending channel pattern against the Canadian Dollar since the beginning of September after the currency pair reversed from its lower boundary at 1.5933 on September 3.[/ANNOUNCE]

The exchange rate is currently testing a support level formed by the 50-period simple moving average at 1.6494.

If the currency exchange rate breaks the 50-period SMA, bears could drag the price towards the 1.6300 in the short-term.

However, if the support level holds, a surge towards the weekly R1 at 1.6693 could be expected within this week's trading sessions.

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