| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Buy |
| Stochastic(5;3;3) | Buy | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇒ |
The Pound Sterling traded sideways against the Canadian Dollar during last week's trading sessions. The 50-hour simple moving average provided resistance for the pair at 1.6434.
Everything being equal, it is likely that the GBP/CAD currency pair continues its decline within this week's trading sessions. The possible target for bearish traders will be near a support cluster formed by the combination of the weekly and the monthly PPs at 1.6237.
If the support cluster as mentioned earlier holds, a reversal north could occur during next week's trading sessions.