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Gbpaudanalysis

GBP/AUD - SellMonthly: 1. Impulse 2. Complex correction 3. Break of correction with new impulse Now the price is make correction and is very possible to see 3rd touch of trendline. If 3rd touch happend with nice bearish candle I will sell. Weekly: 1. Last week the price close like Doji candle 2. Break of neckline without pullback for test Expect a little down drop. How to predict to where the price will drop? Well if I add fibonacci from the high to the low where 38.20% Fibonacci level will align with the neckline I can understand. 0.00% Fibonacci level align perfectly with lower low in the past from where the price is jump to the upside. Daily: 1. Impulse 2. Double bottom formation / not completed for now/ Double bottom formation is trend reversal pattern. 4H: 1. Impulse 2. Complex correction 3. Break of correction with new impulse Now the price is make correction and is very possible to see 3rd touch of trendline. If 3rd touch happend with nice bearish candle I will sell.
Short
by Trader_Petrov
GBPAUD: Preparing For Sells As Price ReversesPrice just reversed on the daily timeframe. Buyers were pushing GBPAUD to the upside, but now that AUDUSD is increasing in strength, GBPAUD is decreasing. These two currency pairs are whats called negative correlating currency pairs. The pair they have in common are AUD. It's like a seesaw. AUD is in the middle. If GBPAUD increases AUDUSD will increase. If GBPAUD decreases AUDUSD will increase. There are plenty of websites to find positive and negative correlations. A quick Google search should do the job. Be sure to focus on pairs that move 70 to (-70) with and against each other. AS far as GBPAUD, I'm on my hands until price pulls-back. We don't know how long price will decrease until the pullback happens. Press 👍🏽 if you enjoy this analysis and be sure to comment your thoughts and questions below. Remember, let us be kind to one another and provide value, not just random thoughts.
Short
by ShaquanLopez