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 reversed from resistance zone
2019-11-11 • Updated
- GBP/CAD reversed from resistance zone
- Next sell target - 1.6330
GBP/CAD today reversed down from the resistance zone lying between the key resistance level 1.6730 (top of the previous corrective wave 2 from the start of August) and the Fibonacci cluster made out of the 38.2% Fibonacci correction of the downward impulse from May and the 50% Fibonacci retracement of the more recent downward impulse from June. The downward reversal from this resistance zone started the active minor impulse wave (c). GBP/CAD is expected to fall to the next sell target at the next support level 1.6330 (former resistance level from August).
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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