Counter Trend Correction Continues
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.
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.