GBPCAD currency pair recently reversed up with the daily Bullish Engulfing from the pivotal support level of 1.63250 (which has been reversing the price from the end of March, as can be seen from the daily GBPCAD chart below), standing close to the lower daily Bollinger Band. This upward reversal broke the earlier down-channel from February. Given the rising bullish sterling sentiment across the currency market today – GBPCAD currency pair can be expected to rise further toward the next resistance level 1.6520 (former low of wave (a) from last month).