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Gbpaudbuy

GBPAUD WEEKLY FORECASTGBPAUD now in middle and moving towards resistance where it will meet downward trendline @1.81250- 1.81300 if the velocity is less it will move downwards .wait for retest and then GO SHORT.... it will move to mini support ..... @ 1.81000 if the velocity is more it can break trendline and move upwards and resistance will become support .wait for retest and then GO LONG.... it will move to new resistance area.. and Take profit 1 @ 1.83450-1.83500.. Take Profit 2 @ 1.85000
by Tradersnode1
GBPAUD TREND MIGHT BE CHANGING!!!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!!!! If you like the analysis then leave a like and follow me for more updates. :)
by ng_forex