GBPCAD recently broke sharply through the support area lying between the key support level 1.6970 (former monthly low from February – which created daily Hammer in May) and the support trendline of the daily up channel from last October.
The breakout of this support area accelerated the active impulse wave C – which belongs to the ABC correction (2) from March.
GBPCAD is expected to fall further and retest the next pivotal support level 1.6760 (monthly low from the start of January).
The US dollar has strengthened, reaching the upper boundary of its trading range. The British…
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- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
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