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GBP/CAD 4H Chart: Pressure by 50-hour SMA

Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)SellSellNeutral
SAR(0.02;0.2)BuySellSell
Aggregate⇒⇘⇒

[ANNOUNCE]The GBP/CAD exchange rate made a pullback from the upper boundary of a junior descending channel pattern at 1.7700 on May 6. The pair were closely guided down by the 50-hour simple moving average.[/ANNOUNCE]

The currency pair hit a psychological support level at 1.6900 on May 22. The rate made a brief retracement north after reaching the support line as mentioned above. However, the 50-hour SMA provided resistance for the pair at 1.7097.

By and large, if the resistance level formed by the 50-hour SMA holds, the currency exchange rate will continue its southern movement during the following trading sessions.

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28 May 2019

ZAR/JPY 1H Chart: Symmetrical triangle in sight

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28 May 2019

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27 May 2019

EUR/TRY 1H Chart: two scenarios likely

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