• GBPCAD reversed from resistance level 1.6175
• Likely to fall to support level 1.5950
GBPCAD recently reversed down from the key resistance level 1.6175 (top of the earlier minor correction from the start of May).
The resistance area near the resistance level 1.6175 was further strengthened by the upper daily Bollinger Band and by the 61.8% Fibonacci correction of the downward impulse from April.
Given the strong downtrend, GBPCAD can be expected to fall further toward the next support level 1.5950 (low of the earlier minor correction wave (b)).
- Nasdaq 100 reversed from strong support level 21000.00 - Likely to rise to resistance…
- USDJPY reversed from key support level 156.35 - Likely to rise to resistance level…
The recent declines in US indices may have broken the bullish trend, indicated by technical…
The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…
Bitcoin finds support near the 50-day moving average, but further declines in the stock market…
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
This website uses cookies