- GBPCAD broke support zone
- Likely to fall to 1.7000
GBPCAD recently broke the support zone lying between the key support level 1.7190 (monthly low from April) and the 50% Fibonacci correction of the previous upward impulse wave 1.
The breakout of this support zone should accelerate the active minor impulse wave (c) of the ABC correction 2 from the end of March.
GBPCAD is likely to fall further toward the next round support level 1.7000 (likely price for the completion of the active wave 2).