– GBPCAD reversed from key support level 1.6900
– Likely to test resistance levels – 1.7110 and 1.7290
GBPCAD recently reversed up from the key support level 1.6900, former strong resistance from May and June.
The support level 1.6900 was strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the upward impulse from February.
Given the clear daily uptrend, GBPCAD can be expected to rise further toward the next resistance levels – 1.7110 and 1.7290 (target for the completion of the active wave iii).
- EURCAD reversed from pivotal support level 1.4900 - Likely to rise to resistance level…
- EURUSD reversed from support level 1.1030 - Likely to rise to resistance level 1.1200…
The unwinding of the carry trade in the FX market continues, with the major safe…
Market Picture The pressure on risk assets continues, pushing the crypto market capitalisation back below…
- AUDUSD reversed from support level 0.6700 - Likely to rise to resistance level 0.6800…
- Gold reversed from support level 2475.00 - Likely to rise to resistance level 2535.00…
This website uses cookies