GBPUSD continues to fall inside the medium-term impulse wave (5) which started in the middle of September from the powerful resistance level 1.2530 (former strong support from June). The pair earlier broke the support level 1.240, which was set as the sell target in our earlier forecast for this currency pair. Given the moderate bearish Sterling sentiment seen across the markets, GBPCAD is likely to remain under the bearish pressure today and is expected to fall toward the next support level 1.2200 (61.8% Fibonacci correction level of the previous upward impulse C from the start of September).