USDCAD has for the moment, the best potential trading perspective since we see a complete 5 waves in wave 1 with a C wave in progress in the corrective wave 2. We expect to see lower levels in this pair but just temporary since we expect the 1.2270-1.2300 levels to hold and be a low for a wave 2 signature.
USDCAD 1h Elliott Wave Analysis
GBPUSD is still in a downward channel. We count this as possibly a more bearish continuation in wave 3. We would like to see a channel break to confirm the 3rd wave. Also some of the other GBP crosses have bearish patterns.
GBPUSD 1h Elliott Wave Analysis