GBP/CAD Bounced off from 1.6535

The GBP/CAD move to the downside for the past two days finally ended when the pair found a support at 1.6535, which also coincides with the (MA)89 indicator on the daily time-frame, formed an impressive doji candlestick on the one-hour time-frame and started climbing. The pair has almost reached the resistance at 1.6650, which coincides with the same indicator, but on the one-hour time-frame again, and a breakout above that level will mean a further move to the upside towards the last high at 1.6887. Considering the double bottom at 1.5750 on the weekly time-frame, such a breakout is quite possible.