GBP/AUD: Wave four triangle could lead to another decline [Video]

GBPAUD is still on track since the last update shared back on May 20, where we mentioned and highlighted a higher degree wave 4 correction before resuming lower into wave 5.

It broke below the base channel support at the start of 2026 signaled a meaningful structural shift. This breakdown suggests that a bearish impulsive phase may now be in play, increasing the probability of further downside continuation within a projected five-wave bearish impulse. As long as price remains below key resistance, the broader bias remains bearish, with expectations of additional weakness within wave 5 after the current wave 4 correction.

GBPAUD has been trading sharply lower this year, and the bearish impulse still appears incomplete. However, the market has been range-bound since April, which increasingly looks like a wave four triangle. Resistance around 1.94 has triggered a reversal lower, although one final sub-wave of wave four could now be in progress before another decline toward the 1.82 area later this year.

For more analysis like this, you can watch below our latest recording of a live webinar streamed on September 28: