ng_forex

GBPAUD TREND MIGHT BE CHANGING!!!

FX:GBPAUD   British Pound / Australian Dollar
We have seen a steep downfall in GBPAUD over some time but it can e the time that bulls take the charge. In the daily charge, it shows that a W pattern may be on the table if price rebounds from here, and also on Friday we have seen a spinning top .

What to do??

On Monday, we will be seeing if Monday candle closes in green or red. If, green then we may take a long to the target of 1.96500 with a stop at 1.89751 (A DECENT RISK REWARD RATIO!!!)

On the other side, if red candle is seen on the closing then the trend may continue to 1.86789 which is possible too.

But, we may see a rebound from here as RSI may rebound from here and also may see divergence on Awesome Oscillator . Also according to the confluence indicator, there are high confluences in this region. So, rebound chances are much high!!!!

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Comment: We are still waiting for W pattern conformation.
Comment: It might hold that support!!!!