The current technical situation of the GBP/AUD peaks the eye of the bears on the weekly chart
From a technical perspective we have 2 factors that that provide interest to the sellers
- a full Elliot wave sequence is in the process of completion with the 5th wave at terminal status, even tough this might move higher, but...
-i believe this is potential tipping point , considering the price action hasn't visited this area since march 2020 (and considering the amount of rejection it faced back then, there is a chance this might happen again
If the correction plays out we could possibly see some down moves all the way to psychological level of 2.000
Even if your not a weekly trader, keeping this information in mind might help with future trades on the pair on the down side , just remember to take risks into consideration
- Always make your own analysis before taking a financial decision
- Risk/Reward ratio is your friend
This is not financial advice !
From a technical perspective we have 2 factors that that provide interest to the sellers
- a full Elliot wave sequence is in the process of completion with the 5th wave at terminal status, even tough this might move higher, but...
-i believe this is potential tipping point , considering the price action hasn't visited this area since march 2020 (and considering the amount of rejection it faced back then, there is a chance this might happen again
If the correction plays out we could possibly see some down moves all the way to psychological level of 2.000
Even if your not a weekly trader, keeping this information in mind might help with future trades on the pair on the down side , just remember to take risks into consideration
- Always make your own analysis before taking a financial decision
- Risk/Reward ratio is your friend
This is not financial advice !
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.