Techical view
According to the Elliot Wave Theory next, move on GPB/CAD is completing corrective wave C. I highlighted grey area 1.7200-1.7300 where I will be looking for price action to short this pair. We can also see breakout of that rising red trendline last week, which is one more confirmation for move down after we see a retest of the broken trend line. I am expecting to see GBP/CAD in 1.6862-1.6732 area in the coming days/weeks.
According to the Elliot Wave Theory next, move on GPB/CAD is completing corrective wave C. I highlighted grey area 1.7200-1.7300 where I will be looking for price action to short this pair. We can also see breakout of that rising red trendline last week, which is one more confirmation for move down after we see a retest of the broken trend line. I am expecting to see GBP/CAD in 1.6862-1.6732 area in the coming days/weeks.
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