GBPAUD Can Be In For A Bearish Reversal; 1.8510 Can Offer A Top

Good day traders! Today’s focus is on GBPAUD and its intra-day look.

GBPAUD made a clear impulsive rally at the start of March, labelled as sub-wave C of a bigger correction. That said, despite this recovery we see price trading at the end of a bigger complex correction, which means we can expect price to slowly turn lower from current levels. That said, we also see the Fibonacci ratio of 100.0 (Waves A and C equality level) reached, so maybe a new bearish turn in minimum three-wave can be around the corner.

GBPAUD, 4h