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JigneshDavda
Dec 28, 2015 3:55 PM

Counter Trend Correction Continues Short

British Pound/Canadian DollarFXCM

Description

GBPCAD Continues to correct against it's uptrend

So far, no indication that the correction has completed & The wave count calls for another leg lower to break 2.0575 for a new low, against 2.0863 highs.

Price has already reached the 50% Fib level - The Candlesticks on the shorter time cycles are showing signs of reversal, however the upside momentum to start the week has been strong, so another high cannot be ruled out.
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