GBPAUD - ABC corrective structure completed - ready for downside

GBPAUD seems to have completed a three wave corrective structure, and is ready for a downside impulse. Could move in profit very fast. A first target area would be represented by a retest of the downside base trend line, and a second potential target would be a retest of previous long term low. Updates on lower timeframes will follow.
Trade with care and only with a tested strategy.
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4hr timeframe:
Wait for a flag to confirm downside impulse, and potential selling range given by the green area on the chart.
Trade with care and only with a tested strategy.
Please don't forget to like us if you think our comments and analyses might be a useful complement to your trading.

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Yorum:

Divergence in play, on the upside: look for sell setups.