GBP/CAD Price Analysis: Target done, focus is back on the downside

GBP/CAD bears in play following downside drift from overnight highs.
Bulls attempting a meanwhile upside correction to old support.

Ross J Burland FXStreet

As per the prior analysis, GBP/CAD Price Analysis: Bulls looking for a significant upside correction, the cross did indeed move to target as forecasted.

Prior analysis, 30-min chart

Live market, 30-min chart

Meanwhile, the price can now be expected to restest the old support in a 38.2% or 50% Fibonacci retracement before making fresh lows.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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