FxWirePro: GBP/CAD Trade Idea

FxWirePro Currency Strength Index for GBP/CAD: Bias Bearish
FxWirePro's Hourly GBP Spot Index was at -80.7424 (Bearish)
FxWirePro's Hourly CAD Spot Index was at 103.285 (Bullish)

Technical Analysis: Bias Bearish
- Price action rejected at 100-DMA
- Price breaks below daily cloud
- Momentum studies are bearish
- RSI below 50, bias lower

Support levels - 1.7315 (200-DMA), 1.7126 (50% Fib), 1.7054 (May 30 low), 1.6822 (61.8% Fib)
Resistance levels - 1.7449 (21-EMA), 1.7491 (5-DMA), 1.7667 (100-DMA)

Recommendation: Watch out for break below 200-DMA to go short, SL: 1.7450, TP: 1.7125/ 1.7055/ 1.6920/ 1.6825

FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.