The GBPCAD price lost the positive momentum recently after reaching 1.8160 level, to activate the correctional bearish track and achieve some gains by declining towards 1.7850, approaching the additional support at 1.7800.

 

Note that holding within the bullish channel and the consolidation of the MA55 near the mentioned additional support line will reinforce the chances of renewing the bullish attempts, to expect rallying towards 1.7980 soon, followed by attempting to renew the pressure on 1.8070 obstacle.

 

The expected trading range for today is between 1.7865 and 1.7980

 

Trend forecast: Bullish