The oil market is always highly volatile.
GBP/CAD reversed from support zone
- GBP/CAD reversed from support zone
- Next buy target - 1.6900
GBP/CAD continues to rise following the earlier upward reversal from the support zone lying between the key support level 1.6550 (former strong resistance level from January) and the 50% Fibonacci correction of the strong sharp upward impulse wave (iii) from the middle of March. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Piercing Line.
GBP/CAD is expected to rise to the next buy target at the resistance level 1.6900 (which stopped the previous minor impulse wave (iii) at the end of March).
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…