Categories: Technical analysis

GBPCAD Wave Analysis 26 January 2024

– GBPCAD reversed from major resistance level 1.7240

– Likely to fall to support level 1.7000

GBPCAD currency pair recently reversed down from the major resistance level 1.7240 (which has been reversing the price from the end of August).

The downward reversal from the resistance level 1.7240 created eth daily candlesticks reversal pattern Dark Cloud Cover.

Given the strength of the resistance level 1.7240, GBPCAD can be expected to fall further to the next support level 1.7000 (low of the previous correction ii).

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

Apple Wave Analysis 17 October 2024

- Apple reversed from key resistance level 237.00 - Likely to fall to support level 227.00…

11 hours ago

Aig Wave Analysis 17 October 2024

- Aig reversed from support level 76.60 - Likely to rise to resistance level 79.65 Aig recently…

11 hours ago

The Crypto Market Stabilises at the Top

Market Picture The cryptocurrency market remains steady at around $2.31 trillion in market capitalisation, mirroring…

20 hours ago

GBPCAD Wave Analysis 16 October 2024

- GBPCAD reversed from resistance zone - Likely to fall to support level 1.7750 GBPCAD…

1 day ago

USDCHF Wave Analysis 16 October 2024

- USDCHF broke resistance zone - Likely to rise to resistance level 0.8730 USDCHF currency…

1 day ago

Pound Suppressed by Weak Inflation

The British pound fell below the 1.30 level against the dollar after weak inflation data…

2 days ago

This website uses cookies