GBP/CAD possible reversal area coming into focus
FX:GBPCAD British Pound / Canadian Dollar
GBP/CAD has been battered down by the BEARS as have all GBP pairs for the last 6 weeks. GBP/USD is hovering around WS1 support and GBP/CAD is entering an area of strong support. This area which extends from current market price(1.7190) down to WS1 at 1.7111 is now a key area for GBP/CAD . If all this support fails then expect a stong move south from the BEARS down to 1.6530 area initially.