• GBPCAD broke support zone
• Likely to fall to 1.7000
GBPCAD recently broke the support zone lying between the key support level 1.7190 (monthly low from April) and the 50% Fibonacci correction of the previous upward impulse wave 1.
The breakout of this support zone should accelerate the active minor impulse wave (c) of the ABC correction 2 from the end of March.
GBPCAD is likely to fall further toward the next round support level 1.7000 (likely price for the completion of the active wave 2).
German industrial production continues to decline. The rate of contraction in March was slightly better…
US indices have been gaining daily since the beginning of May. They have found strength…
Market picture The crypto market has lost 2% of its capitalisation over the last 24…
- S&P 500 reversed from support level 5000.00 - Likely to rise to resistance level…
- USDCHF reversed from support zone - Likely to rise to resistance level 0.9200 USDCHF…
The single currency is trading near $1.076, waiting for further cues and facing serious resistance…
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