GBPAUD Potential cup-and-handle play

FX_IDC:GBPAUD   British Pound / Australian Dollar
19 0
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!
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out