Chart : GBP/AUD
Harmonic Analysis:
The GBP/AUD chart suggests the possibility of a "Bat Pattern" or "Crab Pattern," with the D point approaching.
The market is currently near the lower trendline of the ascending channel, which could act as a critical "reversal" zone.
Opportunities and Risks:
Opportunity: If the D point (support at 1.9940) holds, GBP/AUD could rebound and move back toward the upper trendline of the channel.
Risk: If GBP/AUD breaks below the lower trendline, the harmonic pattern could fail, leading to a significant further decline.
Recommendation:
Wait for GBP/AUD to reach or confirm the D point near the lower channel line. If it holds, there is a good opportunity to enter the market for a move upward.
The GBP/AUD chart suggests the possibility of a "Bat Pattern" or "Crab Pattern," with the D point approaching.
The market is currently near the lower trendline of the ascending channel, which could act as a critical "reversal" zone.
Opportunities and Risks:
Opportunity: If the D point (support at 1.9940) holds, GBP/AUD could rebound and move back toward the upper trendline of the channel.
Risk: If GBP/AUD breaks below the lower trendline, the harmonic pattern could fail, leading to a significant further decline.
Recommendation:
Wait for GBP/AUD to reach or confirm the D point near the lower channel line. If it holds, there is a good opportunity to enter the market for a move upward.
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