I am predicting that the GBP/CAD exchange rate on January 2nd of 2017 will be around the price range of 1.65125.

Looking at the RSI and Stochastic indicators used on the daily and weekly charts of GBP/CAD, we can notice that a strong signal for the continuation of a bearish trend is in place at this time but it should soon run out of fuel and then reverse back towards a bullish trend. However, we can also notice from the Fibonacci Retracements since post-Brexit that there is strong resistance at the 23.60% or 1.6990 price level and normally the exchange rate of GBP/CAD has sharply fallen the previous two times after unsuccessfully being able to preach the 1.6990 price and I speculate that we may see a similar pattern in the weeks ahead.



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