GBP/CAD broke resistance zone

GBP/CAD broke resistance zone
Next buy target - 1.8400

GBP/CAD recently broke through the resistance zone lying between the round resistance level 1.8000 (which reversed the price with the daily Evening Star at the start of March, as can be seen from the daily GBP/CAD chart below). The breakout of this resistance zone accelerated the active minor impulse wave 3, which belongs to the intermediate impulse wave (3) from January. GBP/CAD is expected to rise toward the next buy target at next resistance level 1.8400 (forecast price for the completion of wave (3)).

gbp cad

Dmitry Chernovolov

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