GBPAUD Watch for more downside

27 apr 2022

Hi traders:

Also on my watchlist is GBPAUD, for more downside momentum.

From the top, we can see price clearly have a strong bearish impulse phase,

and formed continuation correction to push the price lower.

The latest development shows us another impulse phase, and follow by an ascending channel correction.

Now that price has broken out of the ascending channel, good to wait for continuation correction to confirm the next down move to the lows.

Thank you