Price broke through support only to retrace back to it and is testing the 50.0 Fibo level
There is a lot of divergence on the lower timeframes confirming a possible change in trend, I suspect that price will consolidate for a bit only to bounce off towards the next level of resistance
Based on previous price action and divergence I can see that price will drop down to a previous level of support before shooting up
I am currently in the sell and will update when price reaches support
Always got to be wary going LONG on the GBP in the current economic climate but from a technical standpoint GBP/AUD looks a reasonable LONG trade from these levels now supported by 2 key trend lines.
The channel shown that GBPAUD has been trading in for the last 2 weeks has finally been breached and price could now be supported by the top the channel and the...
GBPAUD has resisted the BULLS since the 8th May and there has been no new low since that date. It appears the BEARS may be giving up so I'm in LONG with a STOP under the lows at 1.8923. Target is unclear but 1.9200 should be the first port of call.
GA LONG - this is a long term prediction. A big trade which you should only use a small slot size for and sit in this for at least 6 months maybe longer, look for rejection of the ascending trend line plus fib levels.
1200 PIP GAIN 6/1 RR
quick day trade, im already in this trade from market opening but if it does come back to the zone of interest, then look for rejection around the purple box region to take a short, down the the support zone given.
200 PIP GAIN 9/1 RR