Technical analysis

GBPCAD rising inside impulse wave (3)

  • GBPCAD rising inside impulse wave (3)
  • Further gains are likely

GBPCAD continues to rise inside the medium-term impulse wave (3) which stared earlier from the support area lying between the strong support level 1.6600 (monthly low from August) and the lower daily Bollinger Band.

The active impulse wave (3) belongs to the long-term impulse sequence ③ from the middle of August.

GBPCAD is expected to rise further and re-test the next resistance level 1.7200 (which reversed the previous waves (1), (b) and B).

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