GBP/CAD continues to fall after the recent breakout of the 4-hour Up Chanel that was earlier identified by Autochartist – as you can see from the following trade alert for this currency pair. GBP/CAD just broke down below the support level 1.8207 (point A, last connecting point of the lower support trendline of this Up Chanel). GBP/CAD is expected to fall to the target level 1.8123 in the next 2 trading days. The top of this Up Channel formed recently – when the pair reversed down from the resistance zone lying between the resistance level 1.8500 and the upper daily Bollinger Band.
The daily GBP/CAD chart below shows the aforementioned resistance levels: