GBPCAD Wave Analysis – 2 June, 2022

• GBPCAD reversed from key support level 1.5795

• Likely to rise to resistance level 1.5970

GBPCAD recently reversed up from the key support level 1.5795 (which stopped wave (iii) in the middle of May) – standing close to the lower daily Bollinger Band.

The upward reversal from the support level 1.5795 stopped the earlier minor impulse wave (v) from the end of May.

GBPCAD can be expected to rise further toward the next resistance level 1.5970 (former support from May).

Source: Fxpro

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