GBP/CAD reversed from resistance zone
- GBP/CAD reversed from resistance zone
- Next sell target - 1.6750
GBP/CAD recently reversed down sharply from the resistance zone lying between the resistance level 1.7550, upper daily Bollinger Band and the 38.2% Fibonacci correction level of the previous sharp intermediate downward impulse (3) from June. The downward reversal from this resistance zone started the active intermediate impulse wave (5), which belongs to the primary impulse ③ from May.
GBP/CAD is expected to fall further toward the next sell target at the strong support level 1.6750 (which stopped the aforementioned impulse wave (3) in July).