GBP/CAD: buy targets - 2.0800 and 2.1000
By: Dmitriy Chernovolov
- GBP/CAD reached buy target 2.0600
- Next buy targets - 2.0800 and 2.1000
GBP/CAD recently rose sharply – breaking through the resistance level 2.0600, which was set as the buy target in our previous forecast for this currency pair. The breakout of the resistance level 2.0600 is likely to accelerate the active intermediate impulse wave (3) – which recently broke the resistance level 2.0290 and the daily Triangle from September.
GBP/CAD is likely to rise further in the active impulse waves (3) and ③ toward the next buy target at the resistance level 2.0800 – the breakout of which can lead to further gains toward 2.1000 (measured price forecast for the breakout of the aforementioned Triangle).