0
0
September 14, 2020 at 03:37PM
• GBPCAD reversed from multi-month support level 1.6800
• Likely to rise to 1.7075
GBPCAD recently reversed up from the powerful multi-month support level 1.6800 (which also reversed the price twice in June, as can be seen below) – standing near the lower daily Bollinger Band.
The upward reversal from the support level 1.6800 stopped the previous sharp downward ABC correction 2 from the end of July.
Given the oversold reading on the daily Stochastic indicator – GBPCAD is likely to rise further toward the next round resistance level 1.7075.
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gbpcad-wave-analysis-14-september-2020-20200914/
Selected by fonecable.com
Search Web: GBPCAD Wave Analysis – 14 September, 2020
Recent Posts
- British Pound (GBP) Weekly Forecast: Attempts to Recover as Sentiment Shifts
- Why Most Traders Fail and How to Increase Trading Success
- USD/JPY Rate Tracks Rebound in US Yields Ahead of Fed Rate Decision
- US Dollar Firms as PMI Data Echoes Inflation Risk; Cue the Fed
- Natural Gas Outlook: LNG Price Action Approaches Long-Term Resistance
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
Average Rating