Last week supply tried again to broke support at 1.8540 but that attempt failed. Since Wednesday rebound is in progress and upward movement should test at least 1.8830 area. If bulls will be strong enough even 1.9080 level may be tested. Currently there isn’t any positive signs for bulls. Only when price breaks 1.9080 level there will be a bigger chance for a trend reversal. It is likely that in a mid-time support at 1.8540 will be broken and GBPCAD will test 1.8400 or even 1.8140. At this strong support there is a bigger chance that rebound will occur.
Time-frame H4
