GBPAUD: Bearish Harmonic Pattern Signals Potential Downtrend
GBPAUD: Bearish Harmonic Pattern Signals Potential Downtrend
Starting from mid-December 2024, the price completed a bearish harmonic pattern and immediately initiated a bearish trend.
The top of the pattern was reached near 2.0300, followed by a bearish wave of approximately 700 pips, bringing the lowest price near 1.9600.
Currently, GBPAUD has undergone an aggressive correction, and the likelihood of another significant bearish wave in the coming days is high.
Key Support Zones: 1.9850, 1.9670, and 1.9500
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❤️
Starting from mid-December 2024, the price completed a bearish harmonic pattern and immediately initiated a bearish trend.
The top of the pattern was reached near 2.0300, followed by a bearish wave of approximately 700 pips, bringing the lowest price near 1.9600.
Currently, GBPAUD has undergone an aggressive correction, and the likelihood of another significant bearish wave in the coming days is high.
Key Support Zones: 1.9850, 1.9670, and 1.9500
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❤️
Trade closed: target reached
From our previous analysis GBPAUD has already reached our first target and chances are it could continue to move lower.
All focus is only on BOE rate cut and related to their monetary policy the market will continue to move. So far GBPAUD is still bearish and selling continues.
🔴The Bank of England is anticipated to reduce the benchmark interest rate by 0.25% to 4.5% vs 4.75%
🔴Recent lower inflation figures in the UK are being overshadowed by worries about slowing economic growth.
🔴BOE will also release the meeting Minutes alongside the Quarterly Inflation Report. Finally, Governor Andrew Bailey will hold a press conference in which he will explain the reasoning behind the policymakers’ decision.
Note
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.