GBP/CAD: buy targets - 1.9560 and 1.9800
By: Dima Chernovolov
- GBP/CAD reached buy targets 1.9150 and 1.9400
- Next buy targets - 1.9560 and 1.9800
GBP/CAD recently broke above the resistance levels 1.9150 and 1.9400 – both of which were set as the buy targets in our previous forecast for this currency pair. The breakout of these resistance levels continues the active minor impulse wave 3 which started earlier this month – when the pair reversed up with the two daily Hammers from the support zone lying between the support level 1.8850 and 38.2% Fibonacci Correction of the previous impulse wave 1.
GBP/CAD is likely to rise further inside the active impulse 3 toward the next buy targets at the resistance levels -1.9560 (top of the previous intermediate (A)-wave) and 1.9800.