GBP/CAD falling inside minor impulse wave
- GBP/CAD falling inside minor impulse wave
- Next sell targets - 1.6000 and 1.5780
GBP/CAD has been falling in the last few trading sessions inside the minor impulse wave 3, which belongs to the intermediate impulse wave (3) of the extended primary impulse wave Ⓒ from the end of May. The price earlier broke through the support level 1.6680 (lower boundary of the sideways price range inside which the price has been trading from July) – which accelerated the active minor impulse wave 3.
GBP/CAD is expected to fall further to the next sell target at the support level 1.6000 (which reversed previous minor impulse wave (i)) – the breakout of which can lead to further losses toward 1.5780.