| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Sell | Sell | Buy |
| SAR (0.02; 0.2) | Buy | Sell | Buy |
| Aggregate | ⇘ | ⇓ | ⇗ |
GBP/CAD was guided by an ascending channel since mid-August prior to breaching this pattern last Friday in response to solid Canadian employment data. As a result, the Pound fell to the monthly S1 at 1.6778.
From theoretical point of view, the pair should go for a retracement from the bottom channel line circa 1.6950. However, given that the 55-hour SMA and the weekly PP are located nearby, this scenario might not be realised in this session, thus leaving the rate in the 1.6800/50 territory.
Technical indicators suggest that there might be a change in sentiment within the following trading sessions, thus allowing for the rate to reach the aforementioned 1.6950 are, likewise reinforced by the 100– and 200-hour SMAs and the 23.60% Fibo retracement.