GBPAUD In Downtrend

10 сент. 2020 г.

GBPAUD is in a firm decline, a five-wave impulse down from March high. At the moment we see price resuming the downtrend, after recent minor corrective rally in wave 4, which ended at the 1.841 level. That said, wave 5 of an impulse can be underway, so be aware of new lows, as final leg lower can be targeting 1.73/1.72 area.

If wave 4 correction is still not completed, then be aware of a rise towards the Fib. ratio of 23.6 and 38.2 (1.84/1.87 level).

Trade well,

the EW-forecast team