Automatic wave scan: as of 19 Oct 2026, the automatic daily count for GBP/CAD is Wave A up with a bullish bias. The count stays valid while price holds 1.8607.
Current GBP/CAD wave count
Automatic wave scan Updated daily from the latest daily close (19 Oct 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: the five wave decline from 1.9041 (6 Jul 2026) looks complete and price is in wave A, the first leg of a correction. Next levels to watch are 1.8773 and 1.8824. The view fails on a daily close below 1.8607.
Key levels
| Type | Levels |
|---|---|
| Resistance | 1.8951 · 1.9019 |
| Support | 1.8607 · 1.8710 |
| Invalidation | 1.8607 |
What is GBP/CAD?
GBP/CAD is a cross between the pound and the loonie. The pound reacts to UK inflation and politics, while the Canadian dollar reacts to oil and US trade.
The pair often has daily ranges of more than 100 pips.
What moves the GBP/CAD price?
- UK data and politics: Pound shocks drive one side.
- Crude oil: Higher oil prices strengthen the loonie.
- Bank of England and Bank of Canada: Rate outlooks shape trends.
- US trade policy: Tariff news affects the Canadian dollar.
How GBP/CAD moves in Elliott Wave terms
GBP/CAD tends to form large swings with deep corrections. Expanded flats are common in its corrective phases, where wave B goes beyond the start of wave A.
Use the daily chart to keep the larger trend in view.
Tips for counting GBP/CAD waves
Watch UK CPI days and oil inventory reports. Size positions for wide stops.
GBP/CAD key facts
GBP/CAD Elliott Wave FAQ
What moves GBP/CAD?
UK data and politics on one side and oil prices on the other.
Is GBP/CAD volatile?
It often moves more than 100 pips a day, so it needs wide stops.
What is an expanded flat?
A correction where wave B goes past the start of wave A and wave C ends beyond the end of wave A. It is common in GBP/CAD.
Sources and further reading
- BIS Triennial Central Bank Survey of foreign exchange turnover (Bank for International Settlements)
- Monetary Policy Summary (Bank of England)
- Policy interest rate (Bank of Canada)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
