GBP/CAD reversed from resistance zone

GBP/CAD reversed from resistance zone

2019-11-11 • Updated

  • GBP/CAD reversed from resistance zone
  • Next sell target - 1.6330

GBP/CAD today reversed down from the resistance zone lying between the key resistance level 1.6730 (top of the previous corrective wave 2 from the start of August) and the Fibonacci cluster made out of the 38.2% Fibonacci correction of the downward impulse from May and the 50% Fibonacci retracement of the more recent downward impulse from June. The downward reversal from this resistance zone started the active minor impulse wave (c). GBP/CAD is expected to fall to the next sell target at the next support level 1.6330 (former resistance level from August).

Similar

Trade ideas for March 28 - April 1
Trade ideas for March 28 - April 1

Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!

USD/CAD Short Trade
USD/CAD Short Trade

USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.

GBP/USD Near Supply Zone
GBP/USD Near Supply Zone

GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.

Latest news

USD: Powell Speaks on Cutting Interest Rates
USD: Powell Speaks on Cutting Interest Rates

Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...

WTT: Currency Pairs To Trade In April
WTT: Currency Pairs To Trade In April

Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera