forexTrdr
Short

forexTrdr GBPAUD- POUND BOUNCE FALTERING, NEXT STOP 1.80 AREA

FX:GBPAUD   British Pound / Australian Dollar
Morning traders,

Looking at the setup on British Pound versus Aussie dollar which we played from long side last week and are now looking to play from the short side with British Pound running out of upward momentum back at the resistance area highlighted in our trading view chart and looking likely to head lower again.


The price action also shows up on the indicators with RSI failing to break 50 again and Stochastic turning lower from this resistance level around 1.82. We are looking for a retest of lower support around 1.80 over the next week

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Good luck trading

from the Team at forexTrdr



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