Get started
British Pound / Australian Dollar
Short
Updated

GBPAUD at Key Resistance: Correction Ahead?

GBPAUD is approaching a key resistance zone, a level that could act as a potential turning point for the pair. As price moves into this area, bullish momentum may face exhaustion, creating the possibility for a reversal if sellers step in.

If bearish confirmation appears, such as rejection candles or a bearish engulfing pattern, I anticipate a pullback targeting the 1.9863 level. This area represents a logical target within the current market structure, reflecting a possible short-term correction.

This setup aligns with the idea of trend exhaustion near resistance. If you agree with this analysis or have additional insights, feel free to share your thoughts!
Trade active
DanieIM
buy_sell_signaldailyanalysisdailyoutlookGBPAUDsmart_money_conceptsSMCsmctradingsupply_and_demandSupply and Demandsupport_and_resistanceSupport and ResistanceTrend Analysis
DanieIM

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.