Categories: Technical analysis

GBPCAD Wave Analysis – 7 December, 2021

• GBPCAD broke support level 1.6850

• Likely to fall to support level 1.6740


GBPCAD currency pair recently broke through the support level 1.6850 (which stopped the previous minor correction (b) at the end of November).

The breakout of the support level 1.6850 accelerated the active short-term impulse wave 5 – which started earlier from the major resistance level 1.7065.

GBPCAD can be expected to fall further toward the next support level 1.6740 (which stopped the previous impulse wave 3).

AddThis Website Tools
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.

Share
Published by
The FxPro Tech Analysis Team
Tags: GBPCAD

Recent Posts

Gold Wave Analysis – 19 March 2025

Gold: ⬆️ Buy - Gold continues daily uptrend - Likely to rise to resistance level…

2 hours ago

EURJPY Wave Analysis – 19 March 2025

EURJPY: ⬇️ Sell - EURJPY reversed from resistance zone - Likely to fall to support…

2 hours ago

NZDUSD Wave Analysis – 19 March 2025

NZDUSD: ⬇️ Sell - NZDUSD reversed from the resistance level 0.5820 - Likely to fall…

10 hours ago

EURUSD Wave Analysis – 19 March 2025

EURUSD: ⬇️ Sell - EURUSD reversed from resistance level 1.0930 - Likely to fall to…

10 hours ago

Ethereum gives way

The crypto market remains in a downtrend, with Ethereum losing market share while Bitcoin's share…

15 hours ago

GBPUSD Wave Analysis – 18 March 2025

GBPUSD: ⬆️ Buy - GBPUSD reversed from support zone - Likely to rise to resistance…

1 day ago