GBPAUD shorts
Here is why;
Monthly;
Weekly;
Daily;
Monthly;
- Price broke a major monthly region at 1.9970 and in the process has formed a higher high which shows that price is bullish.
- The long term monthly targets, I believe are 2.0375
- However, that is not important for intraday trades
Weekly;
- Price broke a major region at 1.9500 and it is yet to retest that region.
- I believe that price will retest that region before we see any upside movement
Daily;
- Price formed a very long wick candlestick which shows me that price does not have enough orders to go to the upside.
- For this reason, I believe that some sell orders are due and price will inevitably retest the weekly region at 1.9500.
- However, if price does go lower, then the overall target is at 1.9435
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