GBPCAD currency pair recently reversed down sharply from the resistance area located between the key resistance level 1.73000 (which has been reversing the price from August) and the upper daily Bollinger Band. The downward reversal from this resistance area stopped the previous medium term impulse wave (3) from the end of January. Given the strength of the aforementioned resistance area and the strongly bearish sterling sentiment seen today– GBPCAD currency pair can be expected to fall further toward the next support level 1.71000.