GBPAUD offering pending short position
The pair is moving in an ascending channel that has been tested several times and has held on each occasion. The channel is part of a multi year bull trend and will be difficult to turn around. We have a couple of indications that a trend change may be approaching. RSI has developed a clear down trend and the pair has put in lower High, we might say we have half a signal ! A break of channel and a lower low is needed before we can commit to a trade. Currently we have great potential but low probability. The Point and Figure chart is currently at a double bottom.
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