GBPUSD and USDCAD Intraday: Elliott Wave Analysis
USDCAD has turned down yesterday from our highlighted resistance area; 1.0970-1.1000 that was our projected zone for a wave v) in (iii). A decline from that high was strong in a short period of time, refereed as impulse, so we know that this leg is part of a larger incomplete downtrend. We anticipate a three wave set-back in wave (iv) before uptrend may continue again. Ideally wave (iv) will be looking for a support around 1.0880 at the start of next week. In the next sessions pair may find some seller around 1.0940/1.0950.
USDCAD 1h Elliott Wave Analysis
GBPUSD lost some value in the last few hours, but real breakout is still pending. we see a triangle in fourth wave, maybe already finished. Keep an eye on that 1.6819 level that could open door for a new low. On the upside 1.6890 should hold, otherwise that's not a triangle.
GBPUSD 1h Elliott Wave Analysis
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