GBPCAD: Final Drop to Key Support Before Major ReversalThe wave Principle strongly suggests the currency pair is currently in the final stages of a large decline, which is expected to precede a major, sustained upward move.
Completion of Correction: The pair has recently completed a complex, sideways corrective pattern (such as a triangle or flat), marking the start of the final downward push.
Final Downward Leg: This ultimate decline, labeled wave (C), is now underway and is projected to drive the price into a critical support zone.
Target Zone: Traders are watching two key targets for the end of this correction: the 0.618 Fibonacci extension near 1.8162 and the deeper 0.786 extension at 1.8062 .
Anticipated Reversal :Once the price successfully completes this wave (C) and holds support within the 1.816 to 1.806 range, the analysis anticipates the immediate start of a significant and powerful bullish rally.
The current market price is still trading above this projected support zone, indicating that the final downward leg has room to run before the setup for the major reversal is complete.
Stay Tuned :)
@Money_Dictators
