GBPAUD - IS PRICE READY TO RETREAT or HEADING TO 1.9500?

Hey Traders, this is a longer term picture of how GA has been performing. After reaching a high of 1.9971(17th August), price started to decline finding support at 1.8860(29th September). On two occasions(13th/24th October) price failed to break 1.9342(resistance) and from there it went lower finding support at 1.8903(2nd November) before bouncing. Yesterday, price advanced to test the highs(resistance) and once again there was a sell off, however the uptrend is still valid. We've had support tested twice. We've made a higher high and a higher low(2nd test of support). I'm watching the price coming into London session for a possible liquidity sweep below(1.9188/95) and a push higher. If this fails, price is heading to the 1.9125 area. There is a lower significant demand level at 1.9015 to watch for possible BUY opprtunities if price gets there. Be prepared to trade either way. Happy trading
DIONNG

Comment:

TRADE IDEA - Hey Traders, price is either going to bounce at the support level or continue to the lower demand level. Liquidity is below 1.9197 and support is at 1.9187. Watching the price action between 06:00 to 09:30 looking for BUY opportunities if they arise. Be prepared to trade either way. Lower demand is at 1.9115/25. Happy trading.
DIONNG

Comment:

Hey Traders, quick update. It was all SELLS for GA London session with NY pushing price higher 70 pips before the bears gained control again. If you took the break out at 07:00, you never looked back, easy money. Price has found support at 1.9045 for the moment and is tracking higher Asia session(currently 1.9095). One more push lower to 1.900 for buys? Waiting for London session.