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GBPCAD continues to rise following the earlier breakout of the resistance area lying between the resistance level 1.71750 (which has been reversing the price from the start of June) and the 50% Fibonacci correction of the downward wave 2 from the start of May. Given the rising bullish Sterling sentiment seen across the FX markets today – GBPCAD is likely to extend the gains toward the next resistance level 1.74000 (target price calculated for the completion of the active impulse wave (iii)).
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