Hi Traders! GBPAUD bearish setup is forming at the moment. A detailed analysis of this potential sell opportunity is as follows:
GBPAUD Daily Chart:
On the daily chart we have a downtrend line that has formed and the price is respecting this dynamic resistance so far. Currently the price has reached a critical zone. We may now expect short term pullbacks up from the current zone and then possible continuation lower. Once the pullback completes itself look for evidences of bearish pressure and then start looking for sells.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.Advertisement
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