GBP/CAD breaks major support 1.9870, targets 1.9725

• Pattern formed -Big M Pattern
  
  
• Major support -1.9870 (Jan 29^th 2016 low)
  
  
• The pair has broken major support 1.9870 and declined till 1.9845. It is currently trading around 1.9863.
  
  
• Short term trend is weak as long as resistance 1.9890 holds. Any break above 1.9890 will take the pair to next level 1.9940/1.9980.
  
  
• Overall bearish invalidation only above 2.00 level.
  
  
• On the lower side any break below 1.9870 will drag the pair till 1.9800/1.9725.

It is good to sell on rallies around 1.9855-1.9860 with SL around 1.9900 for the TP of 1.9800/1.98725.