GBPCAD currency pair earlier reversed down from the key resistance level 1.61500 (which stopped the earlier correction (ii) and (4) at the start of May), upper daily Bollinger Band, 50% Fibonacci correction of the earlier downward impulse from April and the resistance trendline of the daily down channel from March. The downward reversal from the resistance level 1.61500 started the active intermediate impulse waves (5). Given the strong daily downtrend and significant CAD inflows, GBPCAD currency pair can be expected to fall further toward the next support level 1.58500.