After breaking both 200- and 50-Moving Averages, GBP/CAD could now continue rising furhter. After breaking MAs, the pair found the support first on 200MA and then on 50MA.
Consider buying GBP/CAD, while the pair is near the upward trend line (1.6360) targeting 161.8% Fibs (1.6510) applied to the last corrective wave down, where price rejected 200 MA. The suggested stop loss is below 1.6300 psychological support.
Support: 1.6300
Resistance: 1.6510
