GBPCAD currency pair continues to fall strongly after it broke through the key support level 1.70000 (previous monthly low from July, as can be seen from the daily GBPCAD chart below). The breakout of this support level accelerated the active waves (ii) and (c). Given the powerful bearish sterling sentiment seen across the FX markets today – coupled with significant CAD optimism, GBPCAD currency pair can be expected to fall further toward the next support level 1.68700 (former multi-month low from May).
