Categories: Technical analysis

GBPCAD Wave Analysis 23 November, 2020

• GBPCAD broke resistance area

• Likely to rise to 1.7550

GBPCAD recently broke sharply through the resistance area locate between the resistance level 1.7350 (former monthly high from October) and the 61.8% Fibonacci correction of the previous ABC wave 2 from July.

The breakout of this resistance area accelerated the active minor impulse wave (iii) – which belongs to wave 3 from September.

GBPCAD is likely to rise further toward the next powerful resistance level 1.7550 (multi-month resistance level from the end of August).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: GBPCAD

Recent Posts

USDJPY Wave Analysis 26 April 2024

- USDJPY broke key resistance level 155.00 - Likely to rise to resistance level 160.00…

22 hours ago

Ebay Wave Analysis 26 April 2024

- Ebay reversed from support level 49.35 - Likely to rise to resistance level 52.55…

22 hours ago

False Alert with Yen Interventions?

Even though the Bank of Japan left the key rate and parameters of the QE…

1 day ago

Cooler Bitcoin

Market picture  Market Dynamics: The cryptocurrency market stabilised, losing just 0.1% of capitalisation and dropping to…

1 day ago

GBPCAD Wave Analysis 25 April 2024

- GBPCAD reversed from key support level 1.6910 - Likely to rise to resistance level…

2 days ago

GBPAUD Wave Analysis 25 April 2024

- GBPAUD reversed from support level 1.9135 - Likely to rise to resistance level 1.9360…

2 days ago

This website uses cookies