GBP/CAD falling inside minor impulse wave 5

GBP/CAD falling inside minor impulse wave 5

2019-11-11 • Updated

  • 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.

Similar

Trade ideas for March 28 - April 1
Trade ideas for March 28 - April 1

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!

USD/CAD Short Trade
USD/CAD Short Trade

USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.

GBP/USD Near Supply Zone
GBP/USD Near Supply Zone

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.

Latest news

Gold is Rising Despite Inflation Returns
Gold is Rising Despite Inflation Returns

Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.

Can the Chinese Economy Recover?
Can the Chinese Economy Recover?

Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera