STOCKS: reversal chart patterns
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
GBP/CAD reversed from long-term support level 1.6600
- GBP/CAD reversed from long-term support level 1.6600
- Next buy target - 1.6900
GBP/CAD continues to advance after the earlier upward reversal from the long-term support level 1.6600 (which also previously reversed the pair November of 12017). The support area near the support level 1.6600 was strengthened by the lower weekly Bollinger Band. The upward reversal from this support level started the active impulse wave ③. GBP/CAD is expected to rise further toward the next buy target at the next resistance level 1.6900.
Dmitry Chernovolov
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