| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Neutral |
| Alligator (13; 8; 5) | Sell | Sell | Sell |
| SAR (0.02; 0.2) | Buy | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇒ |
[ANNOUNCE]A junior descending channel pattern has guided the movement of the GBP/CAD exchange rate lower.[/ANNOUNCE]
Everything being equal, it is likely that the Pound Sterling continues its decline against the Canadian Dollar this week. The first target for bearish traders will be at October 3 swing low of 1.66. Thereafter, a brief retracement towards the upper boundary of the junior descending channel at 1.6647 could follow.
Meanwhile, technical indicators on the daily time-frame suggest that the currency exchange rate is in the oversold zone.