Technical analysis

GBPCAD Wave Analysis 28 April, 2021

• GBPCAD reversed from support level 1.7190

• Likely to rise to resistance level 1.7350

GBPCAD today reversed up from the major support level 1.7190 (which has been steadily reversing the price from the start of January).

The support zone near the support level 1.7190 was further strengthened by the lower daily Bollinger Band.

Given the strength of the support level 1.7190  – GBPCAD is likely to rise further toward the next resistance level 1.7350.

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