GBP/CAD broke support zone

GBP/CAD broke support zone

  • GBP/CAD broke support zone
  • Next sell target - 1.7720

 GBP/CAD recently broke through the support zone lying between the round support level 1.8000 (former strong resistance from the start of March) and support trendline of the daily up channel from January. The breakout of this support zone accelerated the active impulse wave (c). GBP/CAD is expected to fall toward the next sell target at next support level 1.7720 (low of wave (iv) from the start of March).


GBP/CAD targeting lower levels

It seems the GBP/CAD looks forward to resume the bearish bias in the short-term, as it has been correcting the cycle started from May 18th and now, we can expect another leg higher to re-test the Fibonacci level of 50% at 1…


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