GBP/CAD 4H Chart: Tests 50-hour SMA - Trade Pattern Ideas - Dukascopy Bank
Tue, 25 Jun 2019 05:01:11 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Buy
Alligator(13;8;5)
Neutral
Sell
Sell
SAR(0.02;0.2)
Buy
Sell
Sell
Aggregate
⇒
⇘
⇘
The British Pound has continued its decline against the Canadian Dollar during the past week. The currency pair was pressured down by the 50-hour simple moving average.
The exchange rate was trading near the upper boundary of a descending channel pattern at 1.6828 during the morning hours of Tuesday's trading session and could be set for a breakout.
However, a resistance level formed by the 50-hour SMA at 1.6828 could restrict bullish traders from pushing the currency exchange rate higher during the following trading sessions.
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