Using my Supply and Demand trading strategy. I have analysed the pair GBP/AUD on the 4 Hour Chart. I believe that the pair is a Strong Sell only if the next candle formed is a BIG Bearish Candle or either a Rejection Candle. If this is the case, I will be looking to go Short.
it looks like pound aussie turns bearish .
on a daily, the market is currently attempting to break below the flag pattern and 1.815 key structure support level.
in case of a confirmed breakout, there will be a high chance to see the stong bearish movement to retest the market low.
Target levels for us will...
GBPAUD (1H) - short term bullish bias
The aussie came under pressure at the start of the week. The pound sterling bounced back from the 4H support level of 1.8150, and the RSI indicator recovered from its over-sold area. The bullish MA cross is a signal that more buyers are getting optimistic, we can expect the price to rally to test the previous high of 1.8400....