CitiFX Technical Strategy Research notes that GBP/USD seems to be following a similar path to the price action seen in Feb-June and July-Oct 2016.
As such, Citi argues that any rally looks likely to struggle in the 1.2775-1.2800 area where the pair should be topping out and turns lower targeting a break below 1.1960-1.2168 area en-route to 1.12.
Same for USD/CAD, where Citi notes that the uptrend looks corrective in nature and may already be topping out around 1.3600.
A weekly close below 1.2970-1.3000, according to Citi, would seem to support this contention and suggest a move towards 1.1950-1.2150.
GBP/USD is trading circa 1.2487 and USD/CAD is trading circa 1.3371 as of writing.
Source: CitiFX Technicals ResearchOriginal Article
