Market Snapshots

GBPCAD Wave Analysis – 04 December, 2019

GBPCAD Wave Analysis – 04 December, 2019
  • GBPCAD broke resistance area
  • Likely to rise to 1.7500

GBPCAD recently broke the resistance area lying between the resistance level 1.7275 (which also stopped the previous impulse wave (i)) and the 78,6% Fibonacci correction of the previous sharp downward impulse from May.

The breakout of the resistance area accelerated the impulse wave 3 from the start of November.

GBPCAD is expected to rise further toward the next resistance level 1,7500.

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