FBS - Analytics


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    GBP/CAD falling inside minor C-wave

    GBP/CAD continues to fall inside the minor C-wave of the intermediate ABC correction (B), which started earlier - when the pair reversed down with the daily Japanese candlesticks reversal pattern Evening Star from the resistance zone lying between the resistance level 1.9200 (top of the previous minor correction 4 from March), upper daily Bollinger Band and the 38.2% Fibonacci correction level of the previous sharp downward impulse from January.

    GBP/CAD is likely to fall further toward the next sell target at the support level 1.8500 (low of the previous minor correction (ii) and the target price calculated for the termination of the active impulse wave C).


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