Refer GBP/CAD chart on Trading View
- GBP/CAD is trading 0.29% lower on the day at 1.6842 at the time of writing.
- The pair is extending weakness for the 5th straight week to hit fresh 7-month lows at 1.6833.
- Price action is hovering above 61.8% Fib retracement at 1.6822, break below to see further weakness.
- Technical indicators on daily charts are heavily bearish. Scope for test of 1.6589 (Nov 13 low) ahead of 1.6389 (78.6% Fib).
- Rising odds of a hard Brexit keeping the pound under pressure. We see bearish invalidation only above 110-EMA at 1.7377.
Support levels - 1.6822 (61.8% Fib), 1.68, 1.6589 (Nov 13 low)
Resistance levels - 1.6962 (5-DMA), 1.7126 (50% Fib), 1.7397 (200-DMA)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-GBP-CAD-finds-strong-support-at-200-DMA-17321-good-to-go-short-on-break-below-1398084) is approaching final targets.
Recommendation: Stay short for further weakness. Target 1.6590/ 1.65/ 1.6390.
FxWirePro Currency Strength Index: FxWirePro's Hourly GBP Spot Index was at -113.665 (Bearish), while Hourly CAD Spot Index was at 111.358 (Bullish) at 1045 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


Forex Scorecard: EUR/USD, GBP/USD, and NZD/USD Stand Out as Prime Bullish Opportunities
All Major JPY Pairs Hit Extreme Bearish Score of -100: USDJPY, EURJPY, GBPJPY, AUDJPY, NZDJPY & CADJPY Flash Maximum Weakness
FxWirePro: USD/CNY downtrend loses steam, remains on bearish path
Major European Indices Trend Scores: DAX & CAC40 Hit Perfect 100, FTSE100 at 85 — All Bullish with Key Levels to Watch
FxWirePro: EUR/ AUD dips below 1.6400 level, focus on near term support
FxWirePro: GBP/USD slips as dollar rebounds from six-week low
FxWirePro- Woodies pivot (Major)
FxWirePro: USD/CNY edges higher, outlook bearish
FxWirePro:EUR/NZD downtrend Intact, eyes 1.9500 level
FxWirePro: USD/JPY gains capped as intervention fears keep traders on edge
NZDJPY Bears Stay in Control After Sell-Off — Sell Rallies at 93 Targeting 90 as All EMAs Align Bearish
DAX & CAC40 Score Perfect 100 Trend, FTSE100 Lags at 85 – Key Levels to Watch on the Perfect Scorers
FxWirePro: NZD/USD turns lower as USD regains footing
FxWirePro- Major Pair levels and bias summary
FxWirePro- Major Crypto levels and bias summary
NZDJPY Bears Stay in Command: Sell Rallies at 92.72-75 Targeting 90 as All EMAs Flash Red
FxWirePro: GBP/NZD downside pressure builds, key support level in focus 



