FXAutomate

4Month Consolidation Nearing Resolution

Short
FX:GBPAUD   British Pound / Australian Dollar
Following recent rejection from the yearly S1 pivot and daily 100 SMA, I am starting to expect a high probability of the 4 month consolidation nearing it's resolution. In order for the range to break to the downside we would ideally want to see a close below the imbalance level @ 1.724 as this will trigger the short with a target @ 1.665 (Yearly S2)

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