GBP/CAD: buy targets - 2.0600 and 2.0800
By: Dmitriy Chernovolov
- GBP/CAD reached buy target 2.0400
- Next buy targets - 2.0600 and 2.0800
GBP/CAD opened this week with the sharp upward gap breaking above the resistance level 2.0400, which was set as the buy target in our previous forecast for this currency pair. The price earlier reversed up sharply from the powerful support zone lying between the support level 2.0150 (which has been revising the price in the last two weeks, as you can see below) and the 38.2% Fibonacci Correction of the previous upward impulse from the middle of July.
GBP/CAD is likely to rise further in the active impulse waves (iii) and 5 toward the next buy targets 2.0600 and 2.0800.