Categories: Technical analysis

GBPCAD Wave Analysis – 28 June, 2022

• GBPCAD falling inside impulse wave (iii)
• Likely to fall to support level 1.5550

GBPCAD continues to fall inside the short-term downward impulse wave (iii), which started recently from the resistance area located between the resistance level 1.5950, upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse (i) from May.

The downward reversal from this resistance area started the active minor impulse wave (iii).

Given the strong daily downtrend, GBPCAD can be expected to fall further toward the next support level 1.5550 (which stopped the earlier sharp downward impulse wave (i)).

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

ADP hints at another strong NFP on Friday  

The monthly ADP labour market report showed that America created 192K new jobs in April, above…

1 day ago

Fed’s hawkish tone risks sinking S&P500 to 4700

Bears showed strength ahead of the FOMC decision.  U.S. indices sagged on Tuesday as investors…

1 day ago

A new stage of Bitcoin’s decline

Market Picture  Bitcoin's closing price on Tuesday became the lowest since late February, confirming the…

1 day ago

Ebay Wave Analysis 30 April 2024

- Ebay under the bearish pressure - Likely to fall to support level 51.00 Ebay…

2 days ago

GBPAUD Wave Analysis 30 April 2024

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

2 days ago

Silver: a possible long road down

Silver has lost 2.6% since the start of the day on Tuesday to $26.4 per…

2 days ago

This website uses cookies