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Good day dear traders, will like to present you a brief view on GBPCAD and EURGBP  for today.

EURGBP:

From the chart below , we can see a retest of rising upper channel line, and a posible butterfly pattern in the making  in the overall WXY elliot wave structure. Going by the fib tool application we can see that 0.8878 is the 50% level of the W1-W3 range .

This confluence offers us the need to await a bounce from this zone.

We therefore will like to await a 123 entry parameter  from the hourly timeframe in the london brink period.

Invalidation for this bounce is at 0.8825 while our conservative target is at 0.8975

GBPCAD:

We can see an obvious 3 level rise on this pair (indicated by the arrows), this suggest an impulsive drive indicating further upside potential in the interim

At current level, we expect a profit taken to take effect for a pullback to 1.7175 , prior resistance now serving as support.

On the lower tf, we like to take this pullback trade and buy back on confirmation later.

Pgfx market analysis chart 3_30_2020(2)

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