Market Snapshots

GBPCAD Wave Analysis – 18 November, 2019

GBPCAD Wave Analysis – 18 November, 2019
  • GBPCAD broke resistance area
  • Likely to rise to 1.7300

GBPCAD recently broke the resistance area lying between the resistance level 1.7040 (which reversed the price twice in October) and the 61.8% Fibonacci correction of the previous downward impulse from May.

The breakout of this resistance area should accelerate the active impulse waves 3 and (3).

GBPCAD is expected to rise further toward the next resistance level 1.7300 (former strong support from April).

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