GBPCAD currency pair continues to fall after the earlier downward reversal from the resistance zone located between the key resistance level 1.60500 and the 38.2% Fibonacci correction of the earlier sharp downward impulse from the start of April. The downward reversal from this resistance zone started the active impulse wave (v). Given the clear daily downtrend and the strongly bearish sterling sentiment that can be seen across the FX markest today – GBPCAD currency pair can be expected to fall further toward
the next support level 1.58000 (low of the previous impulse wave (iii)).