GBP/AUD Prepares for a major correction?

The current technical situation of the GBP/AUD peaks the eye of the bears on the weekly chart

From a technical perspective we have 2 factors that that provide interest to the sellers

- a full Elliot wave sequence is in the process of completion with the 5th wave at terminal status, even tough this might move higher, but...

-i believe this is potential tipping point , considering the price action hasn't visited this area since march 2020 (and considering the amount of rejection it faced back then, there is a chance this might happen again

If the correction plays out we could possibly see some down moves all the way to psychological level of 2.000

Even if your not a weekly trader, keeping this information in mind might help with future trades on the pair on the down side , just remember to take risks into consideration

- Always make your own analysis before taking a financial decision
- Risk/Reward ratio is your friend

This is not financial advice !