GBPAUD Sell gaining ground but needs the 1D MA200 to confirm.

The GBPAUD pair broke below the long-term Channel Up that it has been trading in since the start of the year and a Channel Down emerged as last week we had a rejection on the 1D MA100 (green trend-line). That is the top (Lower Highs trend-line) of the Channel Down and the most optimal sell entry. However the 1D MA200 (orange trend-line) is still supporting, so we need a candle closing below it in order to confirm the sell (earlier confirmation would be the 2nd MACD Bearish Cross).

In that case we will target the 1W MA100 (red trend-line) at 1.8300 (which will also by a symmetrical to the first bearish leg -5.75% drop). If however we close a 1D candle above the 1D MA100 first, we will take the loss and open a buy that will target Resistance 1 at 1.997800).

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