GBPAUD: Roller-Coaster Ride Down

FX:GBPAUD   British Pound / Australian Dollar

- 4hr- We have a bearish flag formation, aligning with our 61.8% fib level which matches with the 1.80500 key level. Previously was a support now turned a crucial resistance for the pair.
-4hr Divergence also coming into play

Measuring our move from the start of the flag as a long term target i would expect 1.77500 to be hit, smooth 300 pip decline.
I expect a clear rejection from the key fib level i have specified, only looking for executions once i am happy with a rejection and bearish tone from the candlestick .


As always please just use these as trade ideas and follow your bias.
Happy Trading!!!


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