Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
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).
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
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