Technical analysis

GBPCAD Wave Analysis – 30 July, 2020

GBPCAD Wave Analysis – 30 July, 2020

• GBPCAD rising inside impulse wave 3

• Likely to rise to 1,7700

GBPCAD continues to rise inside the accelerated impulse wave 3 – which previously broke the resistance zone lying between the resistance level 1,7200 and the 50% Fibonacci correction of the previous ABC wave 2 from May.

The active impulse wave 3 belongs to the multi-month upward impulse sequence (C) from the middle of March.

GBPCAD is likely to rise further toward the next resistance level 1,7700 (former top of the sharp impulse wave 1 from the end of April).

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