| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇒ |
Since December 13, the British Pound has declined by 4.53% in value against the Canadian Dollar. The exchange rate is currently trading in a narrow descending channel pattern.
Given that the currency pair is trading near a resistance cluster formed by the upper boundary of the descending channel and the combination of the weekly pivot point and the 50– hour SMA at 1.7086, a breakout could occur.
If the breakout occurs, a surge towards the weekly R3 at 1.7446 could be expected during the following trading sessions.
However, the 100– and 200– period SMAs at 1.7214 might provide resistance for the currency exchange rate in the shorter term.