Pound vs. Aussie - The Next 3 Days Expectations - 19 April 2022

GBPAUD ranging in past two days without indication of power for continuation of uptrend. In the next couple of hours my expectations are for engulfing price-action with 50-60pips red candle.

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

- By Elliot waves price correcting at this moment with a target minimum of 50%
- Range in swing high area and a hit of big resistance from higher time frames
- MACD goes into negative territory and once dig for dipper correction will start attack in green teritory

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