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)).
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