FX:GBPCAD British Pound/Canadian Dollar
GBPCAD has reached the top of the wave channel and started the decline after the 5 wave up move. The first down move is in 5 waves and has broken the previous 4th wave confirming the divergence and making it a qualified divergence. The retracement has since then reached around 50 to 61.8% levels. One can go short on this pair now and look for targets of with Equal Legs of A-B-C which comes around 1.9560 or as the Wave 3 target of 1.8989 and the stoploss goes just above the highs. Happy Trading!!