GBPCAD Wave Analysis – 04 August, 2020
August 04, 2020 @ 17:25 +03:00
• GBPCAD reversed from resistance level 1.7690
• Likely to fall to 1.7300
GBPCAD recently reversed down with the daily Shooting Star from the powerful resistance level 1.7690 (monthly high from May) – standing well above the upper daily Bollinger Band.
The downward reversal from the resistance level 1.7690 started the active short-term corrective wave (iv).
GBPCAD is likely to fall further toward the next support level 1.7300 (likely price for the completion of the active correction (iv)).