August 12, 2020 at 03:56PM
• GBPCAD broke support level 1.7345
• Likely to fall to 1.7200
GBPCAD recently broke the support level 1.7345 (low of the previous correction (a)), intersecting with the 38.2% Fibonacci retracement of the previous upward impulse from June.
The breakout of the support level 1.7345 accelerated the active impulse wave (c) of the ABC correction (b) from last month.
GBPCAD is likely to fall further toward the next support level 1.7200 (former resistance level from July).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gbpcad-wave-analysis-12-august-2020-20200812/
Selected by fonecable.com
Search Web: GBPCAD Wave Analysis – 12 August, 2020
Recent Posts
- NEWS: ForexLive Americas FX news wrap: Equities finish strong but commodity FX skeptical September 25, 2020 at 09:35PM
- NEWS: Fitch affirms UK at AA- with a negative outlook September 25, 2020 at 09:11PM
- NEWS: Trump will nominate Amy Coney Barrett to Supreme Court – report September 25, 2020 at 09:10PM
- NEWS: US stocks close near high. Nasdaq has first up week in 4 weeks September 25, 2020 at 09:05PM
- NEWS: CFTC commitments of traders: The EUR longs increase and remains near records. CAD the only shorts. September 25, 2020 at 08:38PM
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENTFree Currency Card in the UK; Free Account |
ADVERTISEMENT
ADVERTISEMENTFree Currency Card in the UK; Free Account |
