GBP/CAD 4H Chart: Guided by 100– hour SMA - Trade Pattern Ideas - Dukascopy Bank
Tue, 26 Nov 2019 06:38:22 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Sell
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇗
The British Pound has been appreciating in an ascending channel pattern against the Canadian Dollar since the beginning of September. The currency pair has appreciated about 7.97% in value during the past three months.
As for the near future, the GBP/CAD exchange rate will most likely continue to appreciate in the channel pattern. The potential target for bullish traders would be at a resistance cluster formed by the monthly R1 and the weekly R2 near the 1.7362 area.
Furthermore, technical indicators suggest that the currency exchange rate will continue its bullish movement in the nearest future.
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