GBP/CAD broke support zone
- GBP/CAD broke support zone
- Next sell target - 1.7600
GBP/CAD recently broke sharply through the support zone lying between the support levels 1.8220 and 1.8110. This support zone earlier stopped and reversed multiple previous waves - 3, 5, (B) and (1), as can be seen from the daily GBP/CAD chart below. The latest breakout of this support zone is set to further accelerate the active intermediate impulse wave (3) – which belongs to the primary impulse wave ③ from the end of May.
GBP/CAD is likely to fall further to the next sell target at the support level 1.7600. Strong resistance area now stands between the aforementioned price levels 1.8220 and 1.8110.