
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
- S&P 500 Holds Losses Despite Pullback in Short-Term Consumer Inflation Expectations
- Gold Price Forecast: Gold Threatens Larger Break, 1854 Support in Sight
- Markets Week Ahead: Dow Jones, US Dollar, Gold, Euro, Fed, CPI, China
- S&P 500 Outlook: Equities Drop Ahead of Peloton, Disney and Alibaba Earnings
- USD/JPY Forecast – Setting Up for the Next Leg Higher?