Friday, April 1, 2016

Intraday Analysis: Gbpcad Could Rally a bit

The recent dip in the hourly chart is forming a clear impulse wave and we want to believe that the 3rd wave is about to end.

The 5th sub-wave of the 3rd wave could be an ending diagonal as indicated in the chart below.

If the emerging diagonal completes as indicated, price could rally to at least 1.9190 before we see further dip to complete the short term impulse downtrend.

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