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GBP/CAD falling inside intermediate impulse wave (3)

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  • GBP/CAD falling inside intermediate impulse wave (3)
  • Next sell target - 1.6220

GBP/CAD continues to fall inside the intermediate impulse wave (3) – which started earlier from the resistance area lying between the resistance level 1.6740 (former strong support level from June, acting as resistance after it was broken), upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp downward impulse from the start of June. GBP/CAD is expected to fall to next sell target at the next support level 1.6220 (low of the earlier waves (B) and (1)).

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