GBP/CAD broke round support level 1.6000

GBP/CAD broke round support level 1.6000

2019-11-11 • Updated

  • GBP/CAD broke round support level 1.6000
  • Next sell target - 1.5740

GBP/CAD continues to decline after the earlier breakout of the round support level 1.6000 (previous sell target, which stopped the earlier minor impulse wave 1 at the end of August, as can be seen from the daily GBP/CAD chart below). The breakout of the support level 1.6000 accelerated the active minor impulse wave 3 which belongs to the sharp intermediate impulse wave (3) from last month. GBP/CAD is expected to fall to next sell target at the next support level 1.5740 (multi-month low from January).

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