GBPCAD recently broke the support area lying between the pivotal support level 1.7340 (which has been reversing the price in the last few weeks) and the 38.2% Fibonacci correction of the previous upward impulse from last November.
The breakout of this support area should accelerate the active impulse wave C of the ABC correction (4) from March.
GBPCAD is expected to fall further and retest the next support level 1.7140 (target price for the completion of the active correction (4)).
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