after gbpusd broken the pressure zone last week before market close, i think that it will continue in uptrend channel until it touches the Demand zone and returns back to Support level that it left that Gap behind last week.
GBPAUD is building their start point to complete wave 3 and reach their destination to complete the cycle. Also we can see it moves in a downside parallel channel. And after it touched that strong supply zone its time to complete their bearish trend.
GBP performed a nice AB correction and now in a impulse move of C wave that facing several support and resistance zones and trying to go inside the bullish channel
Updated idea of my previous analysis about eurusd that didn’t gone well. Btw because of the strength of the down trend the B wave extended into double zigzag and now I’m waiting to the market to perform running flat as the down trend is strong but if the zone is broken it will perform expanded flat as well.
EurAud is performing nice double zigzag correction that collecting power by touching the demand and then reach the supply also 0.618 of fibonacci retracement
as you can see the entire pattern had finished its route, and now its in the retesting area after that we have a 3 Support Zones we can also name them 3 TakeProfit Zones.
Simply if you understand Elliott waves and read them you’ll see Wave A is a flat and wave B is Zigzag and as usual wave C is an impulse. the pattern is finishing their job and the trend resumes his way down.
because wave 2 is Sharp Correction(Zigzag) then Wave 4 must be Sideway Correction and that zone that I put wave 5 in it it's so strong that I believe wave 5 can't reach his destination and check my next idea that i believe this impulse is the wave E in triangle Pattern
Check out my last idea about EURJPY the A and B waves Completely Reached their Destination as I mapped the Pattern Exactly and now developing C Wave as a Motive Wave
Check out my previous idea about gold that developing impulse wave i believe that this is a Triangle and the breakout doesn't count as direction for larger trend as R.N.Elliott Described E wave in "Wave Principle' that wave e is often will be Below or Above his destination
