GBP/CAD 4H Chart: Breakout to upwards channel

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Neutral Neutral
Stochastic (5; 3) Neutral Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

After reaching the weekly pivot point level of 1.74, since late November 2017, the British Pound continued to lose strength against the Canadian Dollar.

In the daily time-frame, the pair is gradually moving upwards to a Fibonacci retracement level of 61.8%. The retracement can be measured by connecting the high of 2.10 with the January low level of 1.57, where the 0.00% level is high and 100.00% is the January low.

The 200-hour simple moving average is currently providing support level of 1.70 at the time of this analysis. All technical indicators suggest that market sentiment is likely to continue upwards during the following week until it hit the weekly PP resistance of 1.74.

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