GBPAUD Completes Same Harmonic Pattern Twice
Updated
GBPAUD Completes Same Harmonic Pattern Twice
GBPAUD has completed a bearish harmonic pattern for the second time near a strong daily zone.
This area has previously pushed the price down multiple times.
Additionally, this week, the Reserve Bank of Australia (RBA) sent a hawkish message regarding its economy, supporting AUD strength. Although the impact was not immediate, it may support AUD in the coming days.
GBPAUD is expected to reach 1.9600 as a minimum correction, with the second target at 1.9400 and the third at 1.9200.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
GBPAUD has completed a bearish harmonic pattern for the second time near a strong daily zone.
This area has previously pushed the price down multiple times.
Additionally, this week, the Reserve Bank of Australia (RBA) sent a hawkish message regarding its economy, supporting AUD strength. Although the impact was not immediate, it may support AUD in the coming days.
GBPAUD is expected to reach 1.9600 as a minimum correction, with the second target at 1.9400 and the third at 1.9200.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Note
🚨Chancellor Reeves Reveals Budget
Highlights and forecasts from the UK budget
This budget raises taxes by GBP40 billion
We will maintain BOE's 2% inflation target
OBR says budget will boost long term growth
Will balance budget in third year
Confirms earlier reported rise in minimum wage
Will 'catalyze' 70 billion pounds through new National Wealth Fund
Will increase employers' national insurance contribution by 1.2 percentage points
Will reduce threshold for paying national insurance to 5000 pound by employers
Capital gains tax: lower rate will rise to 18% from 10%, higher rate will rise to 24% from 20%
Capital gains rise will raise GBP2.5B
Inheritance tax threshold freeze to be extended by 2 years
Will increase soft drink levy, will introduce tax on vaping liquids
Will cut duties on draught beer in pubs
Will abolish non-domiciled tax regime
Will introduce a residence based regime
Non-domiciled tax regime will raise 12.7 billion over next five years
Will raise tax on private equity carried interest to 32%
Energy wildfall tax will rise to 38%
Stamp duty on second homes to rise 2 percentage points
Fuel duty will be frozen for another year
Puts VAT on private schools and removes their business rates relief
Trade closed: target reached
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