A potential short opportunity is being presented, as price action here is clear,
we have broken and closed below my respected counter trend, now we looking to be retracing the CTL,
simply will be awaiting an sort of pullback/correction, up to the 61.8 fib, before looking to go short on this pair
instagram - @foreign_jugfx
GBP Short Bias
- LogicStrategy Quant score seen consecutive days of economic contraction for Great Britain. (-7) on the 26/03 and (-4) on the 27/03
CHF Long Bias
- LogicStrategy Quant scores saw a huge (+25) shift from 38 to 63 - showing continual swiss strength.
This idea suits the uncertain agenda for the british economy - with the institutions moving cash...
As we can see GBPAUD has broke through 0.5 fib level in a 4 hour time frame and rejected of 0.382 fib level and quickly made its way back to the entry of the candle,suggesting that there is strong buying pressure available. Aiming to use 0.5 fib level as a form of support for buying pressure