- GBP/CAD trades in narrow range above 5-DMA, up 0.09% at the time of writing.
- The pair has shown a bounce off strong trendline support at 1.7175. We see weakness only on break below.
- Brexit jitters and political uncertainty around May’s government will likely keep the Pound under pressure.
- Recovery attempts lack traction. Price action remains below 200-DMA and daily cloud, bias remains bearish.
- Momentum studies are bearish. RSI is below 50 mark and we see -ve DMI dominance.
- Break below trendline support (currently at 1.7175) will see further weakness. Dip till 61.8% Fib likely.
- While on the upside, we see upside on close above 5-DMA. Bearish invalidation only above 200-DMA.
Support levels - 1.7248 (5-DMA), 1.72, 1.7165 (trendline), 1.71
Resistance levels - 1.73, 1.7379 (200-DMA), 1.74
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 progressing well.
Recommendation: Hold for downside
FxWirePro Currency Strength Index: FxWirePro's Hourly GBP Spot Index was at 110.069 (Bullish), while Hourly CAD Spot Index was at 3.57915 (Neutral) at 0745 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


All Major JPY Pairs Hit Extreme Bearish Score of -100: USDJPY, EURJPY, GBPJPY, AUDJPY, NZDJPY & CADJPY Flash Maximum Weakness
FxWirePro: GBP/NZD downside pressure builds, key support level in focus
FxWirePro: GBP/AUD consolidating around 1.9185, bias is bearish
Gold Retreats as Geopolitical Fears Ease: Bears Target $4,000 Support
FxWirePro- Woodies pivot (Major)
Forex Scorecard: EUR/USD, GBP/USD, and NZD/USD Stand Out as Prime Bullish Opportunities
FxWirePro: AUD/USD cedes early gains ,outlook bearish
Chart of the Day: BTC Double Bottom Ignites — Buy Above $64,050 for $67K–$70K Blast-Off
FxWirePro: EUR/ AUD dips below 1.6400 level, focus on near term support
FxWirePro- Major Crypto levels and bias summary
Currency Scores of Major Pairs: GBPUSD, AUDUSD & NZDUSD Top Charts at 85 — Bullish Pairs to Watch
EUR/JPY Under Pressure: Broad Yen Buying Keeps Bears in Control Below 183.00
FxWirePro: USD/CNY downtrend loses steam, remains on bearish path
AUDJPY Bears Tighten Grip: Sell Rallies at 110.65-67 Targeting 107.75 as All EMAs Stay Red
DAX & CAC40 Score Perfect 100 Trend, FTSE100 Lags at 85 – Key Levels to Watch on the Perfect Scorers
Major European Indices Trend Scores: DAX & CAC40 Hit Perfect 100, FTSE100 at 85 — All Bullish with Key Levels to Watch 



