GBP/CAD: sell target – 1.8400
By: Dmitriy Chernovolov
- GBP/CAD reached sell targets 1.8800 and 1.8660
- Next sell target – 1.8400
GBP/CAD recently broke sharply through the support levels 1.8800 and 1.8660 (low of the previous minor impulse wave (i)) - both of which were set as the sell targets in our previous forecast for this currency pair. The breakout of these support levels accelerated the active minor impulse wave 3 – which belongs to the sharp intermediate (C)-wave from the middle of December.
GBP/CAD is likely to fall further toward the next sell target at the support level 1.8400 (target price for the termination of the active minor impulse sub-wave (iii)). Sell stop-loss can be placed above the recently broken price level 1.8660.