Decreases which started in January slowed down now and reached support at 1.8110. The rebound led price above resistance at 1.8500 which now turned into support. For the first time price is also above dynamic support in form of EMA 8/21.

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If next sessions will close above mentioned levels we can expect that upside move will continue and resistance will be tested, it is near 1.8830. On the other side close below last week’s low will negate short term bullish sentiment on this pair.

1605-GBPCAD (1)

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