| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
The GBP/CAD exchange rate has depreciated about 310 pips since last week's trading sessions. A breakout occurred through the lower boundary of an ascending channel pattern at 1.6374 on September 27.
Given that a breakout had occurred, the Pound Sterling will most likely continue to fall within this week's trading sessions. Bearish traders might aim for a swing low at 1.5950.
On the other hand, the currency exchange rate could reverse from the current price level at 1.6278 and target the 50– period simple moving average at 1.6454 during the following trading sessions.