GBPCAD Wave Analysis – 03 April, 2020

GBPCAD reversed from resistance level 1.7770
Likely to fall to 1.7200

GBPCAD recently reversed down from the resistance level 1.7770 (which has been reversing the price from March of 2019, as can be seen below).

The resistance area near the resistance level 1.7770 was strengthened by the upper daily Bollinger Band.

GBPCAD is likely to fall further in the active short-term correction 2 toward the next support level 1.7200.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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