GBP/CAD 4H Chart: Targets at 1.7234 - Trade Pattern Ideas - Dukascopy Bank
Tue, 02 Apr 2019 05:22:27 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Buy
Sell
Alligator(13;8;5)
Sell
Neutral
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇒
⇗
The Pound Sterling has depreciated about 445 base points against the Canadian Dollar since last week's trading session. The currency pair breached the three SMAs during this time period.
Everything being equal, it is likely that the GBP/CAD exchange rate will edge higher during the following trading sessions.The potential upside target will be near the weekly pivot point at 1.7516.
However, it is expected that the currency exchange rate falls toward a support level at 1.7234 before an upward movement occurs.
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