The GBP/CAD is still bearish. The pair has broken yesterday’s lows before spiking higher. The GBP was bought early in the morning session.
We need to have in mind that the deadline for extending the Brexit transition period is on 30 June. This bounce has contributed to a sort of optimism but all GBP crosses have a headline risk now. At this point I still see the CAD stronger than GBP. Yesterday’s lows have been broken and the price is rejecting THU highs. We should expect a bearish continuation towards 1.6880.
Many green pips,
Nenad Kerkez aka Tarantula FX