This cross looks like it is gaining momentum on the down side. On the hourly chart the Stochastic oscillator has crossed over to the down side momentum, ADX is still in healthy numbers, above 25 and DMI has crossed over to downside momentum. The day chart shows a low ADX but on the rise with DMI crossed over to downside action and gaining momentum. The Stochastic is still on the up side, yet price action has been horizontal, in fact the gap between fast line and slow line is beginning to close. I expect Sterling to continue appreciating against CAD for the rest of the week.

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