GBPCAD Wave Analysis – 29 April, 2020

• GBPCAD reversed from support area
• Likely to rise to 1.7680

GBPCAD today reversed up from the support area lying between the support level 1.7270 (from strong resistance from the middle of March), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous upward impulse 1.

The upward reversal from this support area stopped the earlier short-term ABC correction (ii) from the middle of April.

GBPCAD is expected to rise further toward the next resistance level 1.7680 (top of the previous impulse wave (i)).