GBP/CAD: sell target - 1.8900
By: Dmitriy Chernovolov
- GBP/CAD reached sell target 1.9200
- Next sell target - 1.8900
GBP/CAD recently broke sharply below the support level 1.9200, which was set as the sell target in our previous forecast for this currency pair. The breakout of this support level is likely to accelerate the active intermediate impulse wave (3), which belongs to the primary impulse wave ⑤, which is a part of the long-term downward impulse wave III from last December.
GBP/CAD is likely to fall further in the direction of the next sell target at the support level 1.8900 (which reversed the price in June of 2015 and which is the forecast price calculated for the termination of the active impulse wave ⑤).