GBPCAD Wave Analysis – 18 November, 2021

• GBPCAD rising inside wave 4

• Likely to rise to resistance level 1.7085                                                                  

GBPCAD currency pair continues to rise after recently breaking the resistance levels 1.690 and 1.6980 (top of the previous correction (iv)).

The breakout of these resistance levels accelerated the active short-term corrective wave 4 from the start of November.

GBPCAD currency pair can be expected to rise further toward the next resistance level 1.7085 (previous strong resistance from October and the target for the completion of the active wave 4).