GBP/CAD Continues Falling

After forming the spinning top candlestick on the weekly time-frame at 1.8415 GBP/CAD did indeed begin to move to the downside and eventually it also formed a shooting star candlestick on the same time-frame, which is an even better signal for a further drop. What is more, the pair also broke out below the support at 1.8030 and is currently still moving to the downside. The retracement will likely continue and the closest support will probably be around 1.7780. A breakout below that level could lead to a further drop towards the (MA)89 indicator on the daily time-frame, which is currently at 1.7570.