This is a very interesting rejection that could lead to CAD reversal. And of course, as AUD, NZD and CAD have been leading the recent Bullish surge, it could in turn cause correction in these other currencies…
…speaking of which, AUD certainly looks a little bit overextended… However, judging by the Weekly chart, I would not bet on this Bullish trend reversing. A correction, on the other hand, seems very likely.
In addition to the above, I am waiting for GBP to continue its Bullish trend and it seems that AUD is the main currency preventing that from happening. Finally, current price on GBP and AUD indexes seems very fitting.
I would not be eager to Buy GA just yet, but there are other GBP pairs to work with.