GBPCAD continues to fall after the earlier downward reversal from the pivotal resistance level 1.71800 (monthly low from April and the monthly high from June), intersecting with the upper daily Bollinger Band and the 50% Fibonacci correction of the previous downward ABC correction (2) from April to June. Given the rising bearish sentiment affecting the sterling today – GBPCAD is likely to extend the losses toward the next support 1.70250 (former resistance level which stopped the previous impulse wave (i) at the start of July).