On the weekly chart we can see that after an uprun of 1400 pips GBPAUD is retracing, taking rest. Though it has slipped below the weekly support of 1.8670, still we saw some price rejection from below. Therefore, If price goes up from here and and start trading above the safe zone of 1.8670, we can BUY with an SL below the support. TARGET: 350-400 pips
as per top down analysis price already rejected strong level after a good impulse now time to fall the overall aususd market is bearish
I will buy XAUUSD because : It has been taking support at the trend line . It has touched the trend line 4 times and has not been able to break it. So will be looking at buying opportunities. Entry : 1897 Target : 1915 Stop loss : 1892.94