GBPAUD sell-off is taking the shape of Elliot Wave impulse pattern, labelled i-ii-iii-iv-v. Price is currently in wave iv, which unfolded as a w-x-y double zigzag pattern. It also retraced 38.2% of wave iii and enclosed in a parallel channel.
If this wave count is correct, price is expected to trade below wave iii low in wave v. What's your view on GBPAUD? Let me know in the comment.