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Gbpaudbuy

GBPAUD Broken Out of Its BEARISH Trend...Long Opportunity!!!Lets look at a longer term picture of GBPAUD, what you can see it bulling till a high of 2.0800+ price level before we start seeing a BEARISH trend which brings us all the way down to this price level now. If we look at Fibonacci Retracement for that BULLISH movement to 2.0800+ level, we can see that BEARISH movement now is reaching close to 61.8 fib level which I believe we will see a bullish reversal soon. If we were to look at the recent BEARISH movement from GBPAUD, we can see that it have been obeying the trend line I drawn pretty well but recently, we saw a breakout of this trend line. This could signal to me a possible BULLISH movement can happen soon. Not only that, there is a support level @1.7890 where I believe is also near the area where price will retest the broken BEARISH trend giving us a possible good risk to reward BULLISH climb. I will see this BULLISH movement moving till 50.0 fib level (new fibonacci retracement drawn for the BEARISH movement), of which near this area there will be a rather strong resistance level @1.9750. Thus, I will see BEARISH movement start to form at my resistance zone (Red area) if a bullish retracement is to occur. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!!
Long
by YGForex