GBPCAD H4: Is the Correction Over? Elliott Wave Targets HigherGBP/CADOANDA:GBPCADSamuel124Good afternoon Traders, Trust you are doing great. Below is my analysis of the current GBPCAD structure. GBPCAD remains at a key Elliott Wave decision point. Price is consolidating between 1.87487 support and 1.88521 minor resistance following the rejection from the 1.90–1.91 region. This is because GBPCAD is completing a corrective ABC decline. If Wave (C) terminates above 1.87489 and bullish confirmation appears, a new five-wave bullish sequence could begin, initially targeting 1.89478, 1.90824 and 1.9165. The bullish confirmation is expected to be a sustained break above 1.88523, as this would favour the advance toward 1.89478, 1.90824 and potentially 1.9165. However, a decisive break below 1.87149 would suggest that the correction from the July high is extending, exposing 1.850 and the previous 1.832 swing low. Until either boundary breaks, the wave structure remains unresolved. But my preferred or primary count or is bullish. From the fundamental point of view, the higher UK interest-rate environment continues to offer GBP some relative support against CAD, while Canada's outlook remains sensitive to trade uncertainty and Bank of Canada policy expectations. Cheers and have a great week ahead.