GBPAUD 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...
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...
We have seen a quite nice jump in GBPAUD in previous week, but it may be just an impulse. As, we can see that the trend line is still holding and may continue the downtrend.
So, we are still bearish on GBPAUD pair and if we take a short here then we can take profit at 1.9000 and TP 2 will be at Support 1.8600.
So, don't take a long position for now. So, be...
Potential GBPAUD setting up as well :) WAIT FOR A nice pullback into the 2 point or NEAR that zone for a clean entry after bearish momentum on a smaller time frame
All we need is a nice pullback into structure on the 15 mins chart preferably at the (2) point on the chart or a nice reversal pattern and we can take a sell on GBPAUD.
Do NOT get impulsive to sell GBPs right away! The majority of the time they ALWAYS give you a nice pullback so just be patient or enter a small position while waiting for an optimal entry.
The pair has been moving in a channel pattern from the past two months. It has recently tested the upper trendline and has reverted back with the aim of testing the lower trendline. The expected target for the trade is at 1.81645. The Range of 1.84053 – 1.85157 is a strong resistance area for the pair. The stop loss for the trade will be at 1.85157.
