GBP/CAD Is Bearish

GBP/CAD is obviously very bearish, the pair has been falling ever since it formed a spinning top candlestick on the weekly time-frame at 1.8415. It has now almost reached the support at 1.7330, which coincides with the (MA)89 indicator on the weekly time-frame. The move to the downside will likely last at least until that support level, the question is whether GBP/CAD will be able to break out below it or not. If it does there will probably be a further move to the downside with a long-term target around 1.6800. On the other hand, if the pair bounces off from that support level there could be a move to the upside towards 1.7600.