GBPAUD: Medium-Term Trendline Broken
Updated
GBPAUD Timeframe: 1D
Direction: Short
Confluences for Trade:
- Strong Bearish Candle Formations
- Price broke M/T Trendline (Since Sept 2017)
- Fundamentally, Brexit uncertainty provides a bearish outlook on GBP while AUD may improve on higher chances of Trump and Xi get something agreed on regarding trade and with a more dovish FED, AUD being an investment grade country will see inflow back into their bond markets.
Suggested Trade:
Entry @ Area of Interest 1.7360 - 1.7620
SL: 1.7783
TP: 1.6773
RR: Approx. 2.33 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Trade closed: stop reached
SL hit.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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