stamoyo

GBP/AUD Plausible price action

Short
FX:GBPAUD   British Pound / Australian Dollar
As previously charted, the pair is into the Elliott waves and it should go down for its 4th wave. The strong support line usually "calls" the price but much more often the trend goes more aggressive. We can measure this by the Gann Fan and find out whether it is accelerating or not. Anyways, the RSI and MACD are quite bearish which, in an uptrend is a sign for a plateau and possibly a minor downtrend. We can avail ourselves of those little correction with good risk/reward ratios and quite reliable moves. A short-term sell purchase seems quite legit in this case.
*Disclaimer: this is for educational purposes only*
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