The GBPAUD Elliott Wave analysis on the daily chart highlights a bullish trend in an impulsive phase. The current structure shows that the market is in navy blue wave 3, following the completion of Navy Blue Wave 2. This indicates that the upward trend is ongoing, with the third wave actively advancing.

The market’s position is within gray wave 5, representing the final stage of the wave structure at this level. With the completion of navy blue wave 2, the market is moving forward in Navy Blue Wave 3, typically a strong bullish phase in the Elliott Wave sequence.

The direction at the next higher degrees suggests that navy blue wave 3 has already begun, and the ongoing wave progression is likely to drive the market higher within this bullish structure. As long as the price adheres to the Elliott Wave framework, the bullish trend is expected to persist.

The wave cancellation invalidation level is set at 1.91214. Should the price fall below this level, the current wave count would be considered invalid, potentially signaling a shift in the wave structure or a risk to the upward momentum.

Summary:

The GBPAUD is currently in a bullish trend within the impulsive navy blue wave 3. The completion of navy blue wave 2 has triggered a strong upward movement, with gray wave 5 in progress. The market is expected to maintain its position within the Elliott Wave structure as long as it stays above the invalidation level of 1.91214.

British Pound/Australian Dollar (GBPAUD) 4 Hour Chart.

GBP/AUD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Orange Wave 2.

Position: Navy Blue Wave 3.

Direction next higher degrees: Orange Wave 3.

Details: Orange wave 1 appears to be complete, with orange wave 2 now unfolding.

Wave cancel invalid level: 1.91214.

The GBPAUD Elliott Wave analysis on the 4-hour chart points to a counter-trend movement currently in a corrective phase. The structure indicates the market is in orange wave 2, following the completion of orange wave 1. This suggests the market is undergoing a correction after the initial wave of the downward trend.

Currently, the market is positioned in navy blue wave 3, which is part of the larger orange wave 2. As orange wave 2 continues, it is expected to transition into orange wave 3, signaling the resumption of the downtrend once the corrective phase concludes. Orange wave 1 has been completed, marking the start of the trend, and orange wave 2 is now correcting within this larger structure.

The next higher degrees suggest that after orange wave 2 completes, the market will move into orange wave 3, continuing the overall downtrend. The invalidation level for this wave structure is 1.91214. If the price exceeds this level, the current Elliott Wave count would be invalidated, implying that the corrective phase may have ended.

Summary:

The GBPAUD is in a counter-trend corrective phase with orange wave 2 in progress following the completion of orange wave 1. After this correction, the market is expected to continue its downtrend in orange wave 3. The wave structure remains valid as long as the price stays below the invalidation level of 1.91214.

Technical analyst: Malik Awais.

GBP/AUD Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

GBP/USD remains slightly bid near 1.3300

GBP/USD now advances marginally and manages to dispute the 1.3300 region on Tuesday. Indeed, Cable regains some balance on the back of the lacklustre performance of the Greenback, all preceding the Fed’s meeting on Wednesday and the BoE’s gathering on Thursday.

EUR/USD clings to gains around 1.1400

EUR/USD bounces off earlier multi-week lows and remains close to the 1.1400 region on Tuesday. The pair’s decent advance follows hopes of a more sustainable deal between the US and Iran, which in turn keeps the downside pressure on the US Dollar ahead of the key Fed meeting on Wednesday.

Gold meets contention near $4,000

Gold remains under marked downside pressure on Tuesday, although the $4,000 zone per troy ounce emerges as a decent support for now. The precious metal’s pullback comes despite the modest losses in the US Dollar in a context of easing geopolitical tensions ahead of the key Fed event on Wednesday.

Bitcoin slips below $64,000 as risk-off sentiment grips markets

Bitcoin (BTC) is extending its correction, trading below $64,000 at the time of writing on Tuesday after losses of over 2.5% the previous day. Institutional demand shows early signs of weakness, with spot Exchange Traded Funds (ETFs) recording a mild outflow on Monday, marking three consecutive days of withdrawals.

Indian Rupee outlook: Downtrend set to persist – Just at a slower pace

The Indian Rupee just endured its most brutal six-month stretch in years, battered by a perfect storm of global shocks. From United States (US)-India trade uncertainty to surging Oil prices and the significant outflow of Foreign Institutional Investment (FII) from the Indian stock market, every event brought nothing but pain for the Indian currency.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.