FX:GBPAUD   British Pound / Australian Dollar
43 views
0
Weekly timeframe: Price failed to break weekly resistance for around 7 weeks.

Daily timeframe: Price came to the weekly resistance again creating a lower higher via spinning tops and a bearish momentum candlestick . Price also touched 0.786 fib level 3 times and failed to break above this level aswell.

4 hour timeframe: We had an evening star formation and a bearish engulfing candlestick at weekly resistance and the 0.786 fib level.

Outlook for this week: Price may be headed towards the -0.27 fib extension which lines up nicely with the daily level

Comments