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Short

GBPCAD - PERHAPS THE TOP HAS BEEN REACHED

FX:GBPCAD   British Pound / Canadian Dollar
123 0 2
GBPCAD             displaying a bearish divergence together with the channel breakout that suggest a potential correction or a reversal to the downside. We are targeting either 1.9160 or 1.9050 areas. If both are penetrated, it would show a significant weakness in this pair for the long term. At the same time we should monitor key resistance level , technical as well as psychological 1.93. If breached, pair should target one of the resistance levels before continuing with the correction down. Overall we are very bearish on GBPCAD            
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