GBPCAD currency pair recently reversed up from the key support level 1.57850 (which has been repeatedly reversing the price from the start of May), strengthened by the lower daily Bollinger Band. The upward reversal from the support level 1.57850 stopped the previous short-term downward impulse wave (iii). Given the strength of the support level 1.57850 the moderate bearish Canadian dollar sentiment seen today, GBPCAD currency pair can be expected to rise further toward the next resistance level 1.58700.