GBPCAD declined below the 23.6% Fibonacci retracement level of the upward movement from 1.6590 to 1.7795, near 1.7510 on Friday. The technical indicators are slowing down, mirroring the market’s behavior over the last days as the RSI is dropping below the 50 level, while the MACD is also holding in the bullish area, however, it slipped below the trigger line. In case the pair changes its short-term direction to the downside, the bears would probably challenge the 40-day simple moving average (SMA) currently around 1.7450 and then could hit the support at the 1.7350, which stands near the 38.2% Fibonacci mark of ... (full story)