Image Source: Unsplash

In this technical update, we’re going to look at the Elliott Wave charts of the GBP/AUD currency pair. As readers may know, the GBP/AUD pair recently formed a 3-wave recovery that found sellers precisely at the 'equal legs' area, just as we expected. In this text, we’ll break down the Elliott Wave pattern and forecast.

GBP/AUD Elliott Wave One-Hour Chart for Sept. 18, 2025
 

(Click on image to enlarge)

The GBP/AUD witnessed a correction against the 2.06982 peak. We expect this correction to complete at the 2.0541-2.06359 range as a 3 waves (w)(x)(y) Double Three pattern.

Our regular readers likely know that we often identify potential reversal zones using the 'equal legs' technique. As long as the price stays within this region, we expect sellers to take control and push it down toward new lows. We recommended readers avoid buying the pair at this stage, while favoring the short side.

GBP/AUD Elliott Wave One-Hour Chart for Sept. 20, 2025
 

(Click on image to enlarge)

Only two days later, the result revealed itself. The GBP/AUD pair found sellers, as expected. The currency cross witnessed a decent reaction from the sellers’ zone. The recovery peaked at the 2.05502 mark. As long as the price remains below that high, the next leg down may be in progress toward the 2.0295-2.0215 area.

Remember, the market is dynamic, and the presented view may have changed in the meantime.

More By This Author: