GBPCAD - A fakeout or a hint of a trend reversal - we shall see

As the Stochastics enter the oversold area I expect the Pound to pull back to at least previous support at 1.7945. This area/level will be my entry if I see that this previous support will hold as resistance and we might see the pair break the 1.7850 area and break the uptrend. If so one can get a whole lot of pips in a middle term southbound trade

Be aware of fakeouts and the possibillity that this pair will continue to range between 1.7850 and 1.82