The Pound Sterling has been appreciating against the Canadian Dollar in a narrow ascending channel pattern the middle of December. This gradual surge in price began after the currency pair reversed from a support level formed by the weekly S1 at 1.6731 on December 11.
The exchange rate breached the upper boundary of a dominant descending channel at 1.7075 during Friday's trading session.
Given that a breakout had occurred, it is likely that the currency exchange rate will continue its upside movement within this week. The possible target for the price will be near a resistance cluster formed by the combination of the weekly and the monthly PPs at 1.7512.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.
To learn more about Dukascopy Bank Binary Options
/ Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Business Introducer and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.