| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Buy |
| RSI (14) | Neutral | Buy | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Buy |
| Alligator (13; 8; 5) | Sell | Sell | Buy |
| SAR (0.02; 0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇗ |
The British Pound has been trading in a channel down against its Canadian counterpart since March 20. During this period of decline, the currency pair has reached a three-month low level.
The GBP/CAD exchange rate has bounced off the lower boundary of a descending channel and has breached a resistance cluster formed by the combination of the monthly and the weekly PPs near the 1.74 regions.
Taking into account the settings for the pair, it seems that the Pound Sterling might surge this week.
The nearest target is the upper boundary of the channel down at 1.78 which coincide with the monthly and weekly pivot points.