| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Buy |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇒ |
During the past week, the British Pound has appreciated about 1.91% in value against the Canadian Dollar. A breakout occurred through the upper boundary of a descending channel pattern.
Given that a breakout had occurred, the GBP/CAD currency pair will likely target a resistance level formed by the weekly R2 at 1.6379 during the following trading sessions.
However, a resistance cluster, formed by the 200– period simple moving average and the monthly pivot point at 1.6213 could stop bullish traders from pushing the higher in the short term.