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GBPCAD Wave Analysis – 04 August, 2020

GBPCAD Wave Analysis – 04 August, 2020

  • GBPCAD reversed from resistance level 1.7690
  • Likely to fall to 1.7300

GBPCAD recently reversed down with the daily Shooting Star from the powerful resistance level 1.7690 (monthly high from May) – standing well above the upper daily Bollinger Band.

The downward reversal from the resistance level 1.7690 started the active short-term corrective wave (iv).

GBPCAD is likely to fall further toward the next support level 1.7300 (likely price for the completion of the active correction (iv)).

GBPCAD Wave Analysis – 04 August, 2020


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