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TheDayzen

GBP/AUD ARE WE DONE WITH THE "M" RETRACEMENT ?

Short
British Pound / Australian Dollar (OANDA:GBPAUD)  
TheDayzen  
OANDA:GBPAUD   British Pound / Australian Dollar
Harmonic Patterns Trend Analysis Chart Patterns GBPAUD currency currencytrading short multitimeframeanalysis
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harmonicpatterns trendanalysis chartpattern gbpaud currency currencytrading short multitimeframeanalysis
We have a daily downtrend and we are approaching a strong level of resistance. I believe that the price will bounce from the trendline to complete his way downward. Also from a monthly timeframe we just completed a W formation pattern and the price is almost at the 50% FIB retracement, from that price we expect a strong rejection because it perfectly aligns with a strong resistance by the trendline. This is a 1/4.60 RR setup for the long term.

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Trade safe !!

GBPAUD
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