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November 23, 2020 at 03:39PM
• GBPCAD broke resistance area
• Likely to rise to 1.7550
GBPCAD recently broke sharply through the resistance area locate between the resistance level 1.7350 (former monthly high from October) and the 61.8% Fibonacci correction of the previous ABC wave 2 from July.
The breakout of this resistance area accelerated the active minor impulse wave (iii) – which belongs to wave 3 from September.
GBPCAD is likely to rise further toward the next powerful resistance level 1.7550 (multi-month resistance level from the end of August).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gbpcad-wave-analysis-23-november-2020-20201123/
Selected by fonecable.com
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