Bullish Trend: GBP/CAD is showing a bullish trend on the 4-hour timeframe, indicating a potential new upward movement through wave 5 of a higher degree impulse wave.
Entry Strategy: Consider entering a buy position after a breakout above a key level or when the price completes a 50% to 61% retracement.
Wave 4 and Trendline: Wait for wave 4 to complete and touch the ascending trendline.
Confirmation: Enter a buy position after observing bullish rejection at the trendline.
Entry Strategy: Consider entering a buy position after a breakout above a key level or when the price completes a 50% to 61% retracement.
Wave 4 and Trendline: Wait for wave 4 to complete and touch the ascending trendline.
Confirmation: Enter a buy position after observing bullish rejection at the trendline.
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