GBPCAD under bearish pressure today after the earlier downward reversal from the resistance area lying between the resistance level 1.6700 (which also reversed the price sharply in October and December), upper daily Bollinger Band, 100-day moving average and the 38.2% Fibonacci correction of the previous downward impulse from May. The downward reversal from the aforementioned resistance area started the active short term correction (ii). GBPCAD is likely to fall further in the direction of the next support level 1.6325 (former resistance from August and the target price for the completion of the active wave (ii)).