GBP/CAD 4H Chart: Channel Up

After two consecutive weeks of limbo trading between two major trend-lines of the pattern, the Sterling has finally decided to move and surged to the upper edge in the beginning of this week. Following that, GBP/CAD was immediately sent downwards. It is forecasted to touch the lower boundary soon, which is likely to put the pair on the road of recovery. This scenario is in turn suggested by weekly indicators at the moment. However, SWFX market participants are broadly undecided on the pair's future perspectives, with bulls and bears holding 49% and 51% of all trades, respectively. In case the Pound fails at 2.0264, the next support should be provided by the monthly pivot point at 2.0135.