FXStreet (Córdoba) - The GBP/CAD cross extended its recent slide to a fresh monthly low of 1.9994 dragged down by a stronger CAD, which was supported by gaining oil. The pair however, bounced from the mentioned low, and trades around 2.0070 as the day ends. GBP/CAD technical view “The bearish tone prevails both long and short term, as in the 1 hour chart, the price remained contained by a bearish 20 SMA for most of the day, whilst the technical indicators have resumed their declines well below their mid-lines after correcting oversold conditions”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the Momentum indicator has accelerated its decline below the 100 level, whilst the RSI also heads south around 34 and the 20 SMA maintains a bearish slope above the current level”. Support levels: 2.0035 1.9994 1.9980. Resistance levels: 2.0140 2.0210 2.0270. For more information, read our latest forex news.