GBPCAD 4 Hour Elliott Wave Analysis 3.21.2019
Besides we have bullish sequences in August 2018 cycle, short term rally from the 1.697 low has 5 waves structure which supports idea of further rally. 5 waves from the mentioned low suggests we have ended only the first leg of potential Elliott Wave ZIG ZAG Pattern. So once B pull completes we can get another leg up C red. As of right now GBPCAD is correcting the short term cycle from the 1.697 low. Pull back is labeled as B red , having ((a)) ((b)) ((c)) subdivisions. We see pull back incomplete when we can still be in ((c)) black leg. Chart is calling for potentially another leg lower, however we don't recommend selling it.