Hi traders, gbpaud is forming possible 4h running flat formation. I expect one more wave to the upside before price reversal and drop. I dont expect price to break previus high at 1.79300, i want to see tap at fib 0.786 so thats where i will close my buys and watch for sells. On 1h time frame i see possible price action (bullish flag) but i want to see one more small push to the downside in order to complete that flag pattern. Gbp index is supporting that analysis, and i see that price is gaining on bullish momentum. I will post 1h chart below, so check it. Stay patient!
Note
There is possibility for price to push bit higher and tap fib 0.382 and then drop for one more low in that 1h correction
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.