GBPAUD Potential Pennant formation
Usually this pennant pattern means price action can go either direction. Meaning it requires patience and to wait for a break (aggressive) or break and retest (conservative) before entering.
Given the macroeconomic state of Britain with bearish sentiment regarding the Brexit deal and the formation of this Pennant triangle pattern my bet is on it to eventually break SHORT.
But lets wait and watch if the market agrees!
Given the macroeconomic state of Britain with bearish sentiment regarding the Brexit deal and the formation of this Pennant triangle pattern my bet is on it to eventually break SHORT.
But lets wait and watch if the market agrees!
Note
Price action has broken top side. This nullifies previous bearish bias.
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