The GBPCAD reached the extra support level near 1.0605 in its last negative attack, forming strong barrier against the negative attack, which forces it to form mixed trading by its fluctuation near 1.0635.

 

Note that the main stability within the bearish channel’s levels and by the stability of the main resistance at 1.0675 makes us wait to gather extra negative momentum, which allows it to break the current support and begin targeting extra bearish stations by reaching 1.0570 followed by the support of the bearish channel’s support at 1.0530.

 

The expected trading range for today is between 1.0650 and 1.0570

 

Trend forecast: Bearish