GBPCAD last month have reached the potential resistance of the bullish channel. This level is a line parallel to the lower limit of this formation.

The declines that have been going on for two weeks have stopped, however, on the support provided by the trend line running from the low from January 10th this year. It may turn out that overcoming this level will open the way to a deeper sell off to the lower channel constraint. Apart from channel support, it is also worth paying attention to the key horizontal areas within 1.7630, which last from January to March worked both as support and resistance.

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