Are we finally seeing the continuation of the down-trend resume? Potentially shorting opportunity now visible.
Currently waiting for the daily close for further confirmation.
Price currently rejecting off the 61.8% fib, 50 EMA and the monthly key level. Currently waiting for price action to reverse and continue to the downside. Awaiting break and close below CTL line before considering a short position.
Currently short GBP/AUD. Nice retracement to 61.8% fib level and a break of the CTL also seeing a rejection off the monthly key resistance area for added confluence. EMA now crossing over to support the analysis further. Targeting 1.58773
Overall market bias on the monthly and weekly line up with the daily to confirm a potential short position. Price action currently showing a pullback and rejection off the CTL and monthly key level area. Further rejection seen off the 50 EMA, and we could be witnessing a potential tweezer top or bearish engulfing pattern, but a daily candle close will confirm...
