GBPAUD Potential cup-and-handle play

FX_IDC:GBPAUD   British Pound / Australian Dollar
A very clear cup has formed on the daily, having touched resistance of 1.8 again to complete it. IF we now get an angled retrace that fits the shown handle area, AND it breaks up above 1.8 then the target could be around 1.88-1.89.

Strategy should be to wait for handle shape to retrace up to 1/3 distance to bottom of cup, break above 1.8 and successful back-test to 1.8 again before going long.

Keep an eye on this folks. If all the ducks line up this could be a very strong technical setup!


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out