Wave Tech Analysis

FxPro Forex Analysis: GBPCAD Wave Analysis – 06 September , 2018

GBPCAD broke through the resistance zone
• Further gains are likely

GBPCAD recently broke through the resistance zone lying between the resistance level 1.7000, resistance trendline of the daily down channel from June and the 38.2% Fibonacci correction of the downward impulse (C) from June.

The breakout of this resistance zone accelerated the active medium-term impulse wave (3) from the end of August.

GBPCAD is expected rise further and retest the next resistance level 1.7290 (former strong support level from July).

GBPCAD - Primary Analysis - Sep-06 1910 PM (1 day)