GBP/CAD has been steadily declining in the last couple of trading sessions – fully in line with the following forecast I received earlier that the pair would fall to the target level 1.5707. After shortly approaching this target level on Friday the pair did reach 1.5707 today. GBP/CAD is set to fall further – which can be seen from the second trade opportunity alert for this currency pair which I received today via Autochartist’ email subscription.GBP/CAD" title="GBP/CAD" width="600" height="340">
As you can see from the following Autochartist’s e-mail subscription alert, Autochartist has also recently identified the Rectangle chart pattern on the daily GBP/CAD charts. Autochartist expects the pair to decline further in the next 5 days – toward the target level 1.5467 (which is the last turning point of this Rectangle). Downward sloping moving average confirms this bearish forecast.GBP/CAD 2" title="GBP/CAD 2" width="600" height="339">