See my previous analysis of GBPAUD bigger picture for context.
Whether we see that leg lower (7th arrow as described in previous post) or not, this move up of smaller degree is likely not over yet. We saw a failed retest of what has currently been counted as either 1 or A (RED). This might indicate some kind of 'Flat' correction or maybe a triangle correction.
Nevertheless I'm looking for a deeper pullback (wave C) followed by a break out of the upper non-horizontal trend line (RED)
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Whether we see that leg lower (7th arrow as described in previous post) or not, this move up of smaller degree is likely not over yet. We saw a failed retest of what has currently been counted as either 1 or A (RED). This might indicate some kind of 'Flat' correction or maybe a triangle correction.
Nevertheless I'm looking for a deeper pullback (wave C) followed by a break out of the upper non-horizontal trend line (RED)
www.timstuyts.com
facebook/wwwtimstuytscom/
