GBPCAD currency pair today reversed up sharply from the support area located between the key support level 1.57900 (which stopped the earlier sharp minor impulse wave (iii) at the start of May) and the lower daily Bollinger Band. The pair is currently forming the daily Morning
Star – a strong signal for this currency pair. Given the strongly bullish sterling sentiment seen across the currency markets today -GBPCAD currency pair can be expected to rise further toward the next resistance level 1.60600 (top of the previous minor correction (ii)).