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GBPCAD continues to fall inside the sharp downward impulse wave (c) which previously broke the key support level 1.68250 (former monthly low from the middle of September). The breakout of the support level 1.68250 follows the earlier breakout of the round support level 1.70000. Given the strongly bearish sentiment affecting the sterling– GBPCAD is expected to extend the losses toward the support level 1.65450 (former monthly low from the middle of March).
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