LeoPrime Daily Market Analysis

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GBPCAD reversed from support area; Likely to rise to resistance level 1.68560;

GBPCAD currency pair today reversed up from the support zone set at the intersection of the long-term support level 1.67000 (which reversed the price sharply in 2020) and the lower weekly Bollinger Band. The upward reversal from this support area stopped the previous multiple weekly downward impulse waves iii, (iii) and C . Given the strength of the aforementioned support zone, GBPCAD currency pair can be expected to rise further toward the next resistance level 1.68560. Powerful support stands at the support level 1.67000.

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