GBP/CAD Elliott Wave: Buyers step in at the equal legs area

In this article, we’ll look at the price action of the GBP/CAD and the potential near-term outlook. As our members know, the pair completed a three-wave pullback into the Equal Legs area. Buyers stepped in and triggered a decent rally.

Let’s examine the Elliott Wave structure and the key levels to watch for the next move in GBP/CAD.

GBP/CAD Elliott Wave one-hour chart 10.14.2026

GBP/CAD had been forming a three-wave correction. The price structure suggested that the pullback was incomplete, with another leg down expected to complete the pattern. As our members know, we use the Equal Legs zone to identify the buyers’ area where a correction will complete. We calculate this zone using the Fibonacci Extension tool, projecting the 1.0–1.236 extension of wave W red relative to wave X red.

In this case, our Elliott Wave analysis identified a buyers’ zone around 1.8766–1.8685. We recommended that our members avoid selling , while favoring the long side from the mentioned Equal Legs area.

GBP/CAD Elliott Wave one-hour chart 10.14.2026

GBP/CAD reached the Equal Legs zone at 1.8766–1.8685 and found buyers as expected. The pair delivered a solid reaction from the buying zone, with the corrective cycle completing at the 1.8749. low and triggering a bounce.