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)).

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.

Next AUDCAD Wave Analysis – 29 April, 2020 »

Previous « FxPro Daily Insight for April 30

Published by

The FxPro Tech Analysis Team

Tags: GBPCAD

6 years ago

The funeral for Gold has been postponed
The Supreme Court, with its scepticism about the legality of tariffs, has allowed the shiny…
Crypto bulls fail to maintain momentum
Crypto market stabilises after decline; Bitcoin rebounds but faces pressure. Mixed investor sentiment and notable…
Verbal interventions do not help yen
The weak yen and euro boost the USD, as central banks remain cautious and global…