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GBPCAD Wave Analysis – 10 June, 2019

GBPCAD Wave Analysis – 10 June, 2019
  • GBPCAD broke support area
  • Further losses are likely

GBPCAD recently broke sharply through the support area lying between the key support level 1.6970 (former monthly low from February – which created daily Hammer in May) and the support trendline of the daily up channel from last October.

The breakout of this support area accelerated the active impulse wave C – which belongs to the ABC correction (2) from March.

GBPCAD is expected to fall further and retest the next pivotal support level 1.6760 (monthly low from the start of January).


Source: FxPro

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