The USD/CAD pair movement is almost sideways during the previous days of consolidation which is manifested in the slightly bearish direction of the Yellow channel depicted on the chart.
In fact, still there's no significant price action today. However, some bearish price action was expressed today towards the upper limit of the Violet & Blue channels around 1.0000.
The lower limit of the Violet channel & the midline of the Yellow one around price level of 0.9975 which are considered an Intraday Support for the GBP/USD pair are being tested now waiting for bullish price action in order to catch a BUY opportunity with TP levels located at 1.0030 then 1.0080.
Bearish breakdown of 0.9960 invalidates the bullish scenario for the current time opening the way towards bearish targets at 0.9940 then 0.9915.
