As per the 4 hour chart of GBPUSD, we can notice that the currency pair has clearly broken its support and we are expecting the currency pair to depreciate further from its current levels. As per the price movement and technical indicators, we can expect the currency pair to depreciate in the short term within a next few days and can take support near its long term moving averages and near its short term upward trend line. The currency pair may bounce back from its short term upward trend line around 1.3437 levels but we need to be very careful around those levels as there are multiple supports around those levels and breakout of those level will trigger further downward movements.
So the ideal strategy for trading this currency pair should be selling at the current levels and booking profits around 1.3437 and 1.3420 levels. And breakouts of support or resistance levels are important as breakouts may trigger further movement in the same direction.

Major Support and Resistance:
 
Resistance: 1.3534, 1.3538, 1.3607, 1.3655, 1.3850
Support: 1.3478, 1.3455, 1.3437, 1.3417, 1.3364, 1.3345, 1.3330
 

As per the technical analysis our strategy for the next few days should be:

Shorting GBPCAD at the current levels of 1.3520 with a stop loss of 35 pips and buying near its support levels of 1.3437, 1.3420 and 1.3330. If stop-loss triggers then the position should be reversed again with a 35 pips stop-loss. Breakout of support and resistance levels may create opportunities for further profits.
 

As per the daily chart of USDCAD, we can notice that the currency pair was depreciating for the last few days and moved in line with our expectations as per our previous report on USDCAD. As per the price movement and technical indicators, we are expecting this currency pair to bounce back from its current levels. In the next few days we are expecting the currency pair to appreciate from its current levels. The currency pair may quickly bounce back or may start appreciating after a bit of stabilization at the current levels. The major support for the currency pair seems to be round 1.2335, 1.2319 and 1.2244 levels and we may see a quick bounce back from these levels.
So the ideal strategy for trading this currency pair should be buying near support levels for the midterm. But still breakouts of support or resistance levels are important and breakouts may trigger further movement in the same direction.



Major Support and Resistance:
 
Resistance: 1.2507, 1.2622, 1.2667, 1.2772, 1.2815, 1.2908, 1.3085, 1.3259, 1.3320
Support: 1.2417, 1.2335, 1.2319, 1.2284, 1.2244, 1.2158, 1.2102, 1.2062, 1.2037, 1.1839
 

As per the technical analysis our strategy for the next few days should be:

Buying USDCAD at its nearest support and selling near resistance levels with a stop-loss of 35 pips. And if stop-loss triggers then the position should be reversed again with a 35 pips stop-loss. Breakout of resistance levels will provide opportunities for further profits.
 
Ideal Strategy: Buy at 1.2255, stop loss at 1.2220 and Target around 1.2772 levels.