GBPCAD Wave Analysis 27 November, 2020

• GBPCAD reversed from key resistance level 1.7470

• Likely to fall to 1.7200

GBPCAD recently reversed down with the daily Shooting Star from the key resistance level 1.7470 (which also earlier reversed the price multiple times in August).

The resistance area near the resistance level 1.7470 was strengthened by the upper daily Bollinger Band and by the resistance trendline of the daily up channel from September.

GBPCAD is likely to fall further toward the next support level 1.7200 (which reversed the price at the start of November).