GBPAUD: Long opportunityAccording to the chart we expect a bounce on the trendline. We assume that the price may reach 1.8400 the 1.8450. The invalidation zone is below 1.8250.
Gbpausd
GBPAUD – the completion of 2/B wave in the range of 1.7934We had little time to get the general trend in the daily chart, but in the 240-minutes chart, it was totally clear that a trend which has started in the range of 1.7469 has ended in the range of 1.8527, that is in the format of 5 waves. Also, the corrective movement is in the form of 3 simple waves that have completed in the range of 1.7934. Given these conditions, we should have an upward movement of 5 more waves, which the targets are 1.8307 to 1.8507.
The main confirmation for this uptrend is when the price crossing the range of 1.8218, on the contrary, the range of 1.7934 will violate this analysis
