• GBPCAD reversed from support level 1.6700
• Likely to rise to 1.7000
GBPCAD currency pair recently reversed up from the key support level 1.6700 (former monthly low from November) – intersecting with the lower daily Bollinger Band.
The upward reversal from the support level 1.6700 stopped the earlier downward impulse wave (i).
GBPCAD can be expected to rise further toward the next round resistance level 1.7 – followed by the powerful resistance 1.7065 (which has been reversing the price from October).