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GBPCAD recently reversed up from the powerful support level 1.68000 (which also reversed the price twice in June) – standing well beyond the lower daily Bollinger Band. The upward reversal from this support level started the active impulse wave 3. Given the rising bullish Sterling sentiment seen across the currency market today – GBPCAD is likely to extend the gains toward the next round resistance level 1.71300. Strong support remains at the support level 1.68000.
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