(MENAFN- FxPro) 
- GBPCAD broke support area
- Further losses are likely
GBPCAD recently broke the support area lying between the pivotal support level 1.7340 (which has been reversing the price in the last few weeks) and the 38.2% Fibonacci correction of the previous upward impulse from last November.
The breakout of this support area should accelerate the active impulse wave C of the ABC correction (4) from March.
GBPCAD is expected to fall further and retest the next support level 1.7140 (target price for the completion of the active correction (4)).
Source:FxPro
MENAFN1605201901560000ID1098533396
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.