GBP/CAD: buy targets - 1.9150 and 1.9400
By: Dima Chernovolov
- GBP/CAD reached buy target 1.9000
- Next buy targets - 1.9150 and 1.9400
GBP/CAD continues to rise after the pair earlier broke above the round resistance level 1.9000 - which was set as the buy target in our previous forecast for this currency pair. The breakout of this resistance level should add to the bullish pressure on this currency pair in the coming trading sessions. The price is likely to rise further inside the active minor impulse wave (iii) – which is a part of the impulse 3 of the intermediate corrective (C)-wave from the middle of April.
GBP/CAD is expected to rise to the next buy targets 1.9150 (target price for the completion of the active impulse wave (iii) – followed by 1.9400 (which reversed the price in February).