GBP/CAD broke resistance level 1.9050
- GBP/CAD broke resistance level 1.9050
- Next buy target - 1.9400
GBP/CAD recently broke through the resistance level 1.9050 (which reversed the previous minor ABC correction (iv) in March, as can be seen below). The breakout of the resistance level 1.9050 continues the active minor impulse wave 3, which belongs to the intermediate impulse wave (3) - which earlier broke the resistance trendline of the daily down channel from January (which intensified the bullish pressure on this currency pair).
The pair is expected to rise further in the active impulse waves 3 and (3) toward the next buy target at the resistance level 1.9400 (target price calculated for the completion of the active minor impulse wave 3).