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GBPCAD recently reversed up from the support zone lying between the support level 1.68350 (former monthly low from May) and the lower daily Bollinger band. The upward reversal from this support zone started the active medium-term impulse wave (3). Given the rising daily Momentum and the moderate bullish sentiment affecting the sterling today – GBPCAD is likely to extend the gains toward the next resistance level 1.71800 (top of the previous minor correction B from the middle of June)
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