Hi there fellow traders! My view on GBPAUD is bearish, I believe the market is creating Lower-Lows & Lower-Highs, which can also qualify as a 5 wave Elliot pattern. Looking closely at the 4H chart, we may have a achieved a broken trend line with a possible re-test as Resistance. GBPAUD can go as low as hitting our (support) trend line (this may be as our second target). Good luck.
Trade active
It is important to protect your profit since the market is running into a major resistance.
Note
Support, not Resistance.Trade active
Target achieved, price may still go as low as hitting our support trendline.
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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.