GBPCAD currency pair recently reversed down from the resistance area located between the key resistance level 1.73000 (which has been reversing the price from the start of January) and the upper daily Bollinger Band.
The downward reversal from this resistance area stopped the earlier upward impulse waves (iii), 3 and (3). Given the strongly bullish Canadian dollar sentiment seen across the currency markets today, GBPCAD currency pair can be expected to fall further toward the next support level 1.7150 (low of wave (ii) from the middle of February).