Pound vs. Aussie - Short Term Swing Trading Idea - 7 May 2022

GBPAUD is at the end of the correction phase and start forming good price action for the next week. Potential is over 250 pips to the zone of 1.7680.

What is the supported thesis for the expected future uptrend on GBPAUD:

- By Elliot waves price correction formation is symmetrical A-B-C
- Symmetrical by a time A-C wave is a big indication that is corrective
- MACD goes into negative territory and once dig for dipper correction will start the attack in green territory
- Big bounce near 4.25 year low

If you have any questions related to this trading idea I will be happy to provide you with answers.