- GBPCAD reversed from support area
- Further gains are likely
GBPCAD recently reversed up from the support area lying between the key support level 1.6645 (double bottom from October) and the lower daily Bollinger Band.
The upward reversal from this support area stopped the earlier impulse wave C from May.
GBPCAD is expected to rise further and retest the next resistance level 1.6730 (former support from December).