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Elliott Wave Analysis On GBPUSD And EURAUD

GBPUSD

GBPUSD found some support at that 1.4472 swing level as expected where first impulse down can be finished. As such, we have to be aware of a three wave recovery now back to around 1.4600-1.4650 area from where we will expect a new strong sell-off, ideally down into wave 3) while market is trading beneath 1.4768 high.

GBPUSD, 1H

GBP/USD 1-Hour Chart


EURAUD

EURAUD is moving nicely to the upside, possibly within a third wave now that can rally up to 1.5560 area this week. If that price will be reached while market is trading above 1.5131 then we may be even interested in longs after wave 4.

EURAUD, 4H

EUR/AUD 4-Hour Chart

 


Are you also wondering where is the GBPUSD headed long-term? We have special updates for active day traders. For more details, visit our page at www.ew-forecast.com

 

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