GBP/CAD falling inside minor impulse wave 5

GBP/CAD falling inside minor impulse wave 5

  • GBP/CAD falling inside minor impulse wave 5
  • Next sell targets - 1.6000 and 1.5800

GBP/CAD continues to fall inside the minor impulse wave 5, which belongs to the intermediate impulse wave (3) from the start of August. The active impulse started earlier – when the pair reversed down from the resistance zone lying at the intersection of the resistance level 1.6330, upper resistance trendline of the daily down channel from June and the 50% Fibonacci correction of the downward impulse from the start of August. GBP/CAD is expected to fall to next sell targets at the next support levels 1.6000 and 1.5800.

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