Photo by Colin Watts on Unsplash 
 

GBPAUD Elliott Wave Analysis TradingLounge Daily Chart, 17 July 2023.  

British Pound/ Australian Dollar  

GBPAUD Elliott Wave Technical Analysis

Function: Reactionary(Counter Trend)

Mode: Impulsive

Structure: Motive

Position: Wave (C)

Direction Next lower Degrees: wave ((1)) of Motive

Details: Looking for Confirmation level 1.85045. Wave Cancel invalid level: 1.93988

British Pound/ Australian Dollar (GBPAUD)

Trading Strategy: GBPAUD completed 5 move as impulsive wave in  5th wave(5 of 5).Major 5 wave move as impulsive wave in wave C may Completed. Looking for Confirmation level 1.85045. until clear confirmation like impulsive move with correction, there is also a possibility that wave 4 is still not completed and again buyers will be ready for go higher.

More By This Author:

Stock Market Report: Elliott Wave Technical Analysis Of Technology Stocks
Elliott Wave Technical Analysis: Intuit Inc. - Friday, July 14
Elliott Wave Technical Analysis: NEO/U.S. Dollar - Friday, July 14