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GBPCAD continues to fall inside the short-term corrective wave (ii) which previously broke the support trendline of the daily down channel from the end of May – which strengthened the bearish pressure on this currency pair . Given the prevailing bearish sterling sentiment seen today coupled with the growing Canadian dollar bullishness – GBPCAD is likely to fall further toward the next support level 1.68350 (low of the pervious correction (2) from the end of May).
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