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GBP/CAD 4H Chart: Ascending Channel Continues

The Pound has been steered by an ascending channel against the Aussie since early January. The movement started when the pair touched the lower boundary of the daily dominant channel.

The Bull movement is likely to continue for a short period of time until it reaches the weekly and the monthly PPs near the 1.7803 mark.

The overall market sentiment is bullish and it is might likely to continue for the following week until it reaches the upper boundary. If and when this happens, the GBP/CAD pair should retrace south for a brief period of time.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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