GBP/CAD reached sell target 1.6750
- GBP/CAD reached sell target 1.6750
- Next sell target - 1.6250
GBP/CAD continues to fall inside the minor impulse wave (iii) – which belongs to impulse 5 of the sharp intermediate impulse wave (3) from the end of May. The price today broke the support level 1.6750, which was set as the sell target in our earlier forecast for this currency pair. The breakout of the support level 1.6750 is likely to intensify the bearish pressure on this currency pair.
GBP/CAD is expected to fall further toward the next sell target at the support level 1.6250 (target price calculated for the completion of the active intermediate impulse wave (3)).