Potential long GBPAUD
This pair is in an uptrend - clear higher lows and higher highs can be seen on the daily. Price did break the previous lower high but I expect it to bounce back.
Price has hit daily trendline and we have seen a bullish response, although it has pasted the 61.8% retracement of the last leg, I expect it to close above it.
I can see a potential head and shoulders forming on the lower time-frame which suggests a reversal. A break, retest and continuation of this pattern will be the trigger for a long trade.
Price has hit daily trendline and we have seen a bullish response, although it has pasted the 61.8% retracement of the last leg, I expect it to close above it.
I can see a potential head and shoulders forming on the lower time-frame which suggests a reversal. A break, retest and continuation of this pattern will be the trigger for a long trade.
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.