Since August 2013 there is uptrend at GBPCAD. Resistance which price already reached caused multiple rebounds between years 1994 and 2007. For that reason it is likely that attempt of fast break above that level will be very hard. For the first time in this year level 2.0930 made rebound at August 2015 and 2 weeks ago secong attempt was failed.
On the chart it can be seen double top pattern which could induce bigger correction. Currently nearest support at 2.0630 level stopped declines. If supply will be able to break below that level next target for falls are at 2.0320, 2.0000 and strongest support at 1.9850 level. Alternatively, if this year’s high will be break above new upward impulse will got a chance to reach to support 2.1400.
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