• 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).