Get started

Gbpaudsignal

GBPAUD Set Up for a Massive DeclineGBPAUD is making a series of (i)-(ii), i - ii, wave pattern which usually leads to subsequent decline. On the higher timeframe, price is sitting at a key resistance level that lined up with 50% Fibonacci retracement of the weekly decline. Price has the potential to sell-off from or near the current level and should not breach at least the major invalidation level indicated on the chart to remain valid. What's your thought about GBPAUD? Kindly let me know in the comment. Thanks for reading! Veejahbee.
Short
by Veejahbee
2
GBPAUD BULLS GETTING TIRED. BEARISH REVERSAL AHEAD?Just like the GBPNZD I just published. The weekly chart above puts GBPAUD's entire decline since August 2015 in an Elliott Wave context. The pair’s decline can easily be seen as a five-wave impulse. The pattern is labeled 1-2-3-4-5, where five sub-waves of waves 1, 3 and 5 are also visible. According to the Elliott Wave theory, a three-wave correction follows every impulse. This means the overlapping bullish price action that follows the decline is most likely a complex W-X-Y-X-Z triple three correction within the larger downtrend from 2015 high @ 2.23779. Note how the resistance level, upper trend channel, and 50% Fibonacci level discouraged the bulls in wave Z. This is another indication that the entire 5-3 wave cycle is complete. If this count is correct, we can expect the trend to resume in the direction of the impulsive sequence. Furthermore, the sell-off is supposed to breach 2016 low, so targets below 1.57810 are plausible for GBPAUD in the months ahead. Thanks for Reading!
Short
by Veejahbee