GBPCAD Feb.2012

There is a good chance that this pair will remain within a descending channel starting from Dec.2011. Potential short entries (next week - if reached) are within 1.58, 1.584 and 1.59 (200 day SMA) area with stop @ 1.595 where closing price would invalidate bearish scenario. Targets are 1.545 and 1.53.