GBPAUD Elliott Wave Setup Supports the Bears

Between July 30th and August 26th, GBPAUD managed to recover from 1.7561 to 1.8337. Despite the no-deal Brexit prospects, the Australian dollar turned out to be even weaker than its British rival for almost a month. However, GBPAUD is down by roughly 400 pips since August 26th. Traders are probably wondering if this is a…

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GBPAUD Recovery Interrupts Larger Downtrend

Life has been tough on GBPAUD bulls recently. The pair reached a two-year high of 1.8733 on October 11th, but failed to maintain the uptrend. On December 3rd, the Pound fell to 1.7210 against the Australian dollar – a crash of over 1500 pips in less than two months. As of this writing, the pair…

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GBPAUD On a Slippery Slope Towards 1.53

If you take a look at how GBPAUD has been doing between October 2016 and March 2018 you might think Brexit never happened. The British pound rallied from as low as 1.5322 to 1.8509 against the Australian dollar, gaining almost 21% in those 18 months. As of this writing, the pair is hovering around 1.7720,…

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GBPAUD Plunging Like There is No Tomorrow

It has been a little over a month since GBPAUD reached 1.7650 on May 10th. The day before, May 9th, we published “GBPAUD About to Change Direction”, sharing our Elliott Wave-based opinion, that instead of joining the bulls above 1.7600, traders should stay aside and get ready for a major bearish reversal. Here is the…

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GBPAUD About to Change Direction

The GBPAUD exchange rate climbed to levels not seen since September, 2016. The pair is currently trading close to 1.7600, nearly 19 figures above the bottom at 1.5757 registered in October last year. Rising prices could be tempting, but also dangerous. In fact, the daily chart below suggests the British Pound is at a critical…

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