GBP/CAD today reversed down from the resistance zone lying between the pivotal resistance level 1.6710 (which reversed the previous waves (2) and 3, as can be seen from the daily GBP/CAD chart below), upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward impulse from the start of June. Given the daily Stochastic is still moving in the overbought area - GBP/CAD can be expected to fall to the next sell target at the support level 1.6400.
