FBS - Analytics

    FBS

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    GBP/CAD reached sell target 1.8500

    GBP/CAD recently broke below the support level 1.8500 (low of the previous minor correction 4), which was set as the sell target in our previous forecast for this currency pair. The price earlier reversed down sharply with the daily Japanese candlesticks reversal pattern Falling Star from the resistance zone lying between the resistance level 1.8800 and the 38.2% Fibonacci correction of the previous sharp downward impulse wave from the end of May.

    GBP/CAD is likely to fall down to the next sell target at the support level 1.8200. Sell stop-loss can be placed above the aforementioned resistance level 1.8800.


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