GBPAUD, In Descending-Wedge, Potential Completion After Impulse!

Hello,

Welcome to this analysis about GBPAUD, we are looking at the 4-hour timeframe perspectives. In recent times GBPAUD has formed a very interesting formational structure in which I discovered the pivotal levels to consider here. As when looking at my chart now we can watch there how GBPAUD has formed this massive descending-wedge-formation with the coherent wave-count within and the waves A to D already completed. The wave B was finalized by GBPAUD with this bear-flag-formation marked with the boundaries in blue. Now with wave D GBPAUD is forming this ascending-wedge-formation in which GBPAUD also has a coherent wave-count in the formation and this whole formation is likely to complete with a breakout below the lower boundary of the formation from where GBPAUD will continue with its determinations in this structure. In this case, when GBPAUD approaches the lower ascending-wedge target-zone marked in blue in my chart this can also be simultaneously a back-up-zone, when GBPAUD then manages to bounce within this zone this will be a setup for the completion of this whole descending-wedge-formation when GBPAUD manages to breakout above the upper boundary of the formation the whole formation will be completed and it will be the origin for further continuations and activation of upper target-levels, it will be an interesting dynamic ahead.

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Information provided is only educational and should not be used to take action in the markets.