Hello Traders,
This is the potential structure for GBPCAD as we are expecting sizeable downside to come. The overall strength of the GBP will be quite weak in the long term as well as a bullish outlook on the CAD. Here, we have a possible regular flat structure which will indicate continuation to the downside. There still is a possibility for the "C" wave to become a 3 wave structure similar to wave "A" of the larger correction. We can safely forecast an inevitable break of the 1.659 level highlighted as that is the bottom of the current impulse down.
Trade with care!
Feel free to PM if you have any questions and join our group to learn more about our analysis methods.
This is the potential structure for GBPCAD as we are expecting sizeable downside to come. The overall strength of the GBP will be quite weak in the long term as well as a bullish outlook on the CAD. Here, we have a possible regular flat structure which will indicate continuation to the downside. There still is a possibility for the "C" wave to become a 3 wave structure similar to wave "A" of the larger correction. We can safely forecast an inevitable break of the 1.659 level highlighted as that is the bottom of the current impulse down.
Trade with care!
Feel free to PM if you have any questions and join our group to learn more about our analysis methods.