GBPCAD Wave Analysis – 11 March, 2022

• GBPCAD broke key support level 1.670
• Likely to fall to support level 1.6575

GBPCAD recently broke the key support level 1.670 (which has been reversing the price from the start of November).

The breakout of the support level 1.670 continues the active short-term impusle wave (iii) of the higher order impulse wave 3 from August.

With the strongly bullish CAD sentiment seen today – GBPCAD can be expected to fall further toward the next support level 1.6575.