| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇘ |
The 50-hour simple moving average guided the British Pound lower against the Canadian Dollar during last week's sessions. The currency pair reached near January low at 1.6829 during the early hours of Tuesday's trading session.
As for the near future, it is likely that the GBP/CAD exchange rate will continue its downward swing. The potential downside target will be near the bottom border of a descending channel pattern at 1.6612.
However, a support cluster formed by the combination of the weekly and the monthly PPs at 1.6829 could provide support for the currency exchange rate during the following trading sessions.