GBP/CAD broke resistance level 1.7540

GBP/CAD broke resistance level 1.7540

  • GBP/CAD broke resistance level 1.7540
  • Next buy target - 1.8000

GBP/CAD has been rising sharply in the last few trading sessions inside the minor accelerated impulse wave 3, which belongs to the intermediate (C)-wave from the start of April. The price earlier broke through the three consecutive resistance levels: 1.7100, 1.7240 (two previous buy targets) and 1.7540 (which reversed the previous waves 4 and (2))

GBP/CAD is expected to rise to the next buy target at the next resistance level 1.8000 (former key support level from June). Buy stop-loss can be placed below 1.7540.


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The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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