GBPCAD is undergoing a huge correction. The price holds between 38.2 and 50% correction near the 200SMA on a weekly chart. It's expected that GBP will further fall in an expection of brexit. In contrary CAD might fall supported by a decline in oil prices. This will result in GBPCAD reaching the 50% fibo retracement at 1.79. Further it can either sit at this level for some time or rebound to a nearest resistance level which is the current price level of 1.82-1.835.
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