Is the GBP/CAD finally running out of steam
The GBP/CAD has been on an extend bullish trend for some time now, but in the last few weeks, the pair have started to run out of steam, running into some key resistance levels. The initial weakness was signalled with some ultra high volume, followed by several shooting star candles, before the pair initially started to move lower. Today's weak UK data has given the pair a further shove lower, breaching the first of several potential support regions. So is this the start of a longer term reversal in trend, or merely a short term pause?