Technical analysis

GBPCAD Wave Analysis 28 January, 2021

GBPCAD Wave Analysis 28 January, 2021

• GBPCAD broke resistance area

• Likely to rise to resistance level 1.7675

GBPCAD recently broke the resistance area lying between the resistance level 1.7480 (monthly high from November and December) and the resistance level 1.7535 (monthly high from September).

The breakout of this resistance area accelerated the active impulse wave (c) – which belongs to the minor ABC correction 2 from the start of last month.

GBPCAD is expected to rise further toward the next resistance level 1.7675 (monthly high from July and the target for the completion of the active ABC correction 2).

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