The GBPAUD Elliott Wave Analysis for the day chart offers valuable insights into the potential price movements of the British Pound/Australian Dollar currency pair, utilizing Elliott Wave principles within technical analysis.

Identified as a "Counter Trend" scenario, the analysis indicates that the current market direction opposes the broader trend, suggesting a corrective phase or potential reversal from the prevailing price movement.

Characterized as "Corrective" in mode, the analysis suggests that the current price action is part of a corrective wave pattern, indicating a temporary deviation from the primary trend.

The "STRUCTURE" is defined as "Blue wave C," signifying that the market is currently within the C wave of a corrective pattern. This typically represents the final leg of the corrective structure before the resumption of the larger trend.

Positioned as "Black wave 2," the analysis provides insights into the current wave count within the broader Elliott Wave cycle. This helps traders identify potential reversal levels or corrective targets within the larger wave structure.

The "DIRECTION NEXT LOWER DEGREES" is stated as "Black wave 3," indicating the anticipated direction for the subsequent lower-degree wave. This suggests that once the current corrective phase concludes, the market may resume its downward movement in the broader Elliott Wave cycle.

In the "DETAILS" section, it is noted that "blue wave B of 2 looking completed, and blue wave C of 2 is in play." This suggests that the corrective phase has likely concluded, and the market is now poised for a reversal or continuation of the larger trend.

The "Wave Cancel invalid level" is specified as 1.99747, serving as a critical threshold. A breach beyond this level would invalidate the current wave count, prompting a reevaluation of the analysis.

In summary, the GBPAUD Elliott Wave Analysis for the day chart provides traders with valuable insights into potential price movements, corrective phases, and critical levels to monitor for trading opportunities within the broader Elliott Wave structure.

GBPAUD Elliott Wave Analysis Trading Lounge 4 Hour Chart,

British Pound/Australian Dollar(GBPAUD) 4 Hour Chart.

GBP/AUD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Blue wave C:

Position: Black wave 2.

Direction next lower degrees: Black wave 3.

Details: blue wave B of 2 looking completed and blue wave C of 2 is in play . Wave Cancel invalid level: 1.99747.

The GBPAUD Elliott Wave Analysis for the 4-hour chart presents insights into potential price movements of the British Pound/Australian Dollar currency pair, employing Elliott Wave principles within technical analysis.

Defined as a "Counter Trend" scenario, the analysis suggests that the current market direction contradicts the broader trend, indicating a corrective phase or reversal from the prevailing price movement.

Characterized as "Corrective" in mode, the analysis indicates that the current price action is part of a corrective wave pattern rather than a impulsive move in the direction of the primary trend.

The "STRUCTURE" is identified as "Blue wave C," implying that the market is currently within the C wave of a corrective pattern, typically denoting the final leg of a corrective structure.

Positioned as "Black wave 2," the analysis indicates the current wave count within the larger Elliott Wave cycle, providing insights into potential reversal levels or corrective targets.

The "DIRECTION NEXT LOWER DEGREES" is stated as "Black wave 3," suggesting the anticipated direction for the subsequent lower-degree wave. This implies that once the current corrective phase completes, the market may resume its downward movement in the larger Elliott Wave cycle.

In the "DETAILS" section, it is mentioned that "blue wave B of 2 looking completed and blue wave C of 2 is in play." This suggests that the corrective phase has likely ended, and the market is now poised for a reversal or continuation of the larger trend.

The "Wave Cancel invalid level" is specified as 1.99747, serving as a critical threshold. A breach beyond this level would invalidate the current wave count, necessitating a reassessment of the analysis.

In summary, the GBPAUD Elliott Wave Analysis for the 4-hour chart provides traders with valuable insights into potential price movements, corrective phases, and critical levels to monitor for trading opportunities within the broader Elliott Wave structure.

GBP/AUD Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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