GBPAUD - Sell off at London open expected

Jan 31, 2017

The price action on both the higher time frames and the 1 hour chart speak of a possible sell off once London opens up. Small and well defined corrective structures on the 1 hour chart like this often are followed by a strong move once the order flow and liquidity re-enters the market. Let's see if it manifests.

1.65 is a good initial target area and if that level folds 1.6430 would be up next, followed by 1.6350.

Jan 31, 2017

Trade active

Jan 31, 2017

Trade closed: target reached

First target hit.

Jan 31, 2017

Trade closed manually

Remaining position closed at break even.