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November 19, 2020 at 03:59PM
• GBPCAD reversed from resistance level 1.7350
• Likely to fall to 1.7200
GBPCAD recently reversed down from the resistance level 1.7350 (former monthly high from October) – intersecting with the upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous downward ABC wave 2 from July .
The downward reversal from the resistance level 1.7350 stopped the previous short-term impulse wave (iii) from October.
With the overbought daily Stochastic – GBPCAD is likely to fall further toward the next support level 1.7200 (which has been reversing the price from the start of November).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gbpcad-wave-analysis-19-november-2020-20201119/
Selected by fonecable.com
Search Web: GBPCAD Wave Analysis 19 November, 2020
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