Elliott Wave Analysis: GBP/CAD Is Trading In 5th Wave
Today we will talk about a clear bearish pattern on GBP/CAD, which can be trading in the final wave 5.
On August 22 we shared GBP/CAD chart with our members, where we saw a clear, bearish and unfinished pattern. We have warned about a five-wave decline and missing wave 5, which is just happening right now.
Today on August 28, we have only updated our expectations. So, what we expect is that GBP/CAD will sooner or later hit new lows, where we see a minimum target for wave 5 around 1.65 – 1.64 area.
Just keep in mind that once GBP/CAD hit new lows, five waves can be completed and reversals may occur anytime.