Pound vs. Aussie - The Next 3 Days Expectations - 19 April 2022

19 Nis 2022

GBPAUD ranging in past two days without indication of power for continuation of uptrend. In the next couple of hours my expectations are for engulfing price-action with 50-60pips red candle.

What is the supported thesis for the expected downfall and future uptrend on GBPAUD:

- By Elliot waves price correcting at this moment with a target minimum of 50%
- Range in swing high area and a hit of big resistance from higher time frames
- MACD goes into negative territory and once dig for dipper correction will start attack in green teritory

If you have any questions related to this trading idea I will be happy to provide you with answers.