Hello traders,
GBPAUD continued lower from latest 1.84 high, and is now trading close to potential support at 1.806 level, provided form a former swing high. Also fib. ratios of 50.0 and 61.8 (1.806/1.80 level) can react as support, and push price into a higher degree wave c. That said, once sub-wave c) or y) of b fully develop, and we see a rally in impulsive fashion, that is when correction as b may be completed, and wave c underway.
Trade well,
the EW-forecast team
GBPAUD continued lower from latest 1.84 high, and is now trading close to potential support at 1.806 level, provided form a former swing high. Also fib. ratios of 50.0 and 61.8 (1.806/1.80 level) can react as support, and push price into a higher degree wave c. That said, once sub-wave c) or y) of b fully develop, and we see a rally in impulsive fashion, that is when correction as b may be completed, and wave c underway.
Trade well,
the EW-forecast team
Note
GBPAUD looks to have completed its corrective wave 4 at 1.84 level, as price started sharply declining. Wave 5 now eyeing potential 1.73/1.72 area.
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US Single STOCKS (FREE Access), FX, Crypto
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Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
👉Explore Our Services @ wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
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Newsletter Sign up
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.