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Short

GBPCAD : Downward Correction In Play Towards 1.9600

FX:GBPCAD   British Pound/Canadian Dollar
On the Daily chart of GBPCAD             , we see a nice bullish cycle from April lows. It looks like trend made a top as in red wave (v) and now we expect the price to make a three wave retracement.
Red waves (a) and (b) seems to be completed, because of a sharp fall to the downside into a red wave (c), which should have an impulsive structure, that means five waves down, that we are tracking on 4h chart. Ideally price will continue to around 1.9600 - 1.9700 area, where even our fibo. level 50% of a previous big five waves up shown on the Daily chart can react as a support.

Link to our previous posts about this pair:
GBPCAD : Final Leg C Unfolding



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Very nice analysis. I always find you posts useful, keep the good work up
+1 Reply
ew-forecast PRO SharifAzadeh
Thank you for your comment.
Will keep posting. :)
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Like your count
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Thank you. :)
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