Get started

Gbpaudsell

GBPAUD Market Outlook | Daily Forex Market BreakdownGBPAUD GBPAUD is pushing down a bit, but I’m not fully convinced we’re heading to the downside just yet. You have to keep in mind that 2.000 is a strong psychological key level that we have been floating around for some time. I believe that we will see a few more rejections off 2.000 before heading lower. I’m also not weighing out the possibility that we could start climbing back to the upside. Keeping a very close eye on this pair for the time being.
by Layne_LV
3
GBPAUD Bears Set To Overtake After 4 Years of Correction.GBPAUD is bearish against the decline that started in August 2015. The decline can be seen as a five-wave Elliot Wave impulse structure, labeled 1-2-3-4-5. According to Elliot Wave theory, a three-wave correction follows every impulse move. In GBPAUD's case, since the completion of the decline in 2016, it has been a tug-of-war between the bulls and bears in the corrective phase. The correction is a complex one which is labeled as W-X-Y-X-Z double three corrections. Once the correction is completed the primary trend resumes. If this count is correct the correction is completed and we have a 5-3 wave cycle. We should see a massive decline in wave (C) to complete the Zigzag pattern, target below wave (A) low is plausible. Further Confluence Rejection from 61.8 Fib Rejection of monthly 200 EMA not on the chart Multiple rejections from the upper trend line A perfect flag pattern What's your thought on GBPAUD?
Short
by Veejahbee