The GBPCAD is at channel resistance and also a key Fibonacci level.
The GBP has been on a tear against most currencies the last few sessions and the GBPCAD is no exception. However, we have been confined to a really nasty range, and currently we are at the top of the range and also at the 50% retracement. A close above the 1.7550 level could dislodge this pair and allow for a substantial rally.
Blake Morrow
