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GBP/CAD two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellNeutralBuy
SAR(0.02;0.2)SellSellBuy
Aggregate⇘⇒⇗

[ANNOUNCE]The Pound Sterling has edged lower by 1.78% against the Canadian Dollar since August 20. The currency pair breached the 50– and 200– period simple moving averages last week.
[/ANNOUNCE]
Currently, the exchange rate is trading near the lower boundary of an ascending channel pattern.

If the channel pattern holds, the currency exchange rate could make a pullback towards the 1.7500 level during the following trading sessions. 

However, if the GBP/CAD pair breaks the ascending channel pattern, bearish traders could target the weekly S2 at 1.1764 this week.

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