GBPAUD update; Top-Down

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Short term I expect bullish price action for a wave 4 towards 1.93 zone.
Once this corrective structure will be over I expect at least one leg lower towards 1.83 zone to complete the weekly impulse lower.

Updates will follow.





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ملاحظة

We might have seen a deep retrace for what I counted to be a wave B of a 'Flat' correction. However as always we need to look for confirmation, I will do that by means of a lower time frame consolidation and buy the bullish continuation. Until we see that, a new low is still possible.

٧ أبريل ٢٠١٦

ملاحظة

GBPAUD might be correcting in an expanded Flat correction which resulted in a new low. However I still favor the wave count for a wave 4 correction for now. I'll be looking for the bullish break. It seems like we are in an impulse on lower time frames, if we see a consolidation we might be able to buy even before the break.

updates will follow