GBPAUD anticipated last leg lower seems in progress

A week ago, before the impulse higher for the GBPAUD I explained why I favored a last leg lower for the GBPAUD before we see a bullish break out. Have a look at that post for context.


If we indeed see that new low for wave 11, we not only have a corrective structure but also an extended corrective wave pattern. When price is closing in on the bottom I will update and see whether we are able to spot more confluence. In case price reverses I like to buy the break out because the major trade will be a buy trade.

www.timstuyts.com

facebook/timstuyts/