Since mid-January GBP/CAD has moved in a downtrend. Price moved above support 1.9890 until yesterday. Support was broken below and price continued its declines. Next support at 0.9730 also wasn't able to stop further depreciation, and due to this current goal for bears is 1.9480 level. Today's macroeconomic data from UK labour market were weak and did not help with rebound. The unemployment rate stayed at 5,1% in December versus forecasted 5%.
if price tests 1.9480 level, rebound will occur. After rebound resistances are at levels: 1.9730, 1.9890, 2.0350.
Time-frame H4
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