GBPAUD: Bearish Harmonic Pattern Signals Potential Downtrend

30 gen

GBPAUD: Bearish Harmonic Pattern Signals Potential Downtrend

Starting from mid-December 2024, the price completed a bearish harmonic pattern and immediately initiated a bearish trend.

The top of the pattern was reached near 2.0300, followed by a bearish wave of approximately 700 pips, bringing the lowest price near 1.9600.

Currently, GBPAUD has undergone an aggressive correction, and the likelihood of another significant bearish wave in the coming days is high.

Key Support Zones: 1.9850, 1.9670, and 1.9500

You may find more details in the chart!
Thank you and Good Luck!

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6 feb

Trade chiuso: obiettivo raggiunto

From our previous analysis GBPAUD has already reached our first target and chances are it could continue to move lower.
All focus is only on BOE rate cut and related to their monetary policy the market will continue to move. So far GBPAUD is still bearish and selling continues.

🔴The Bank of England is anticipated to reduce the benchmark interest rate by 0.25% to 4.5% vs 4.75%

🔴Recent lower inflation figures in the UK are being overshadowed by worries about slowing economic growth.

🔴BOE will also release the meeting Minutes alongside the Quarterly Inflation Report. Finally, Governor Andrew Bailey will hold a press conference in which he will explain the reasoning behind the policymakers’ decision.

6 feb

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