GBPCAD currency pair recently reversed down from the resistance zone located between the key resistance level 1.72800 (which has been repeatedly reversing this currency pair from the end of December as can be seen below), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous sharp downward impulse from the middle of August. The downward reversal from this resistance zone stopped the previous impulse wave 3. Given the strength of the aforementioned resistance zone and the bearish sterling sentiment seen today, GBPCAD currency pair can be expected to fall further toward the next support level 1.71000 (low of the previous correction 2).