GBPCAD Wave Analysis – 27 June, 2019

GBPCAD reversed from support area
Further gains are likely

GBPCAD recently reversed up from the support area lying between the key support level 1.6645 (double bottom from October) and the lower daily Bollinger Band.

The upward reversal from this support area stopped the earlier impulse wave C from May.

GBPCAD is expected to rise further and retest the next resistance level 1.6730 (former support from December).

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.

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