As we can see on the chart above GBPAUD has been in a bearish trend and respecting the trendlines resistance and its support. And as we can see now that we have created a LH in the trend and we are hopefully going to push below if we are to respect our setup. Previously we have been having a lot of selling momentum. But if we are to sell we will reach the previous LL the pair will create new LL on the trend support structure. But If we are to cross the orange trend in 1.90480 which is our previous LH we will go for buying opportunities.
So far all indications are showing that sellers are in control and more selling opportunities are to come and possibly more if we break the LL.
So far all indications are showing that sellers are in control and more selling opportunities are to come and possibly more if we break the LL.
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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.