GBPAUD - Sell the top

GBPAUD is in a big monthly corrective structure as WXYXZ triple wave combo prior to which there was an impulsive leg down.
There is divergence present the between Y and Z wave indicating the corrective structure is coming to an end.

This a good short trade to take, if the trendline below breaks its can be a big move down to test the lows.
Watch for break and correction below the trendline for confirmation of the big move.

Yorum:

Caught the short from the top closed it here.
These are two ways this could play out. Either do a small correction here and continue breaking down then I will look for short trade setup (red) but we can also breakout and so consolidation there to test the top once again as Z wave may not yet be complete.