Gbpaudsell
GBPAUD approaching support, potential for a bounce!
GBPAUD is expected to drop to 1st support at 1.78660 where it could potentially react off and up to 1st resistance at 1.79530.
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#GBPAUD, Trend change?Changes occur in this model of importance.
By March we were on a rising channel then in April the GBP/AUD entered a pattern called Double top which could mark a change in trend (which is what actually happened)Looking at the graph above, you can see that this is the first time in several months that the Pound has gone out of the trend line, On his way down the pound falls below the Moving average 200 (Bear sign).
Target: 1.7440
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15 Min
This time Frame is supporting a bullish outlook. Price above all MA's with RSI still facing up. MACD is now showing a bearish divergence. Expecting Move down soon
1 HOUR
Buys still in the Market so be careful MACD & STOCh Rsi both showing bearish divergence.
4 HOUR
Bearish. Price is making a correction of earlier bearish move. Price now testing the 38.2 % fib retracement point. Price is also below all MA's with price about to test the 100 WMA.
OVERALL
Bearish Outlook expecting the bearish momentum to continue
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GBPAUD approaching resistance, look out for potential reversal!GBPAUD is approaching its resistance at 1.84081 where it is could reverse down to its support at 1.82449.
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GBPAUD - FOREX - 20. JUNE. 2019Welcome to DACapitalTrading, We provide any kind of Technical and Fundamental Analysis
for Forex and Crypto-Currency Markets every day!
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1 HOUR
Very bullish price action and pressure.
4 HOUR
Bullish breakout above previous week highs, expecting a pullback now!
DAILY
We need a pullback price is way to strong now, clear breakout. Long holders jumping on board now, great short entries ;)
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FOREX SETUP
SELL GBPAUD
ENTRY @ 1.84130
SL @ 1.84950 (80 Pips)
TP @ 1.82740 (140 Pips)
RR: 1.70
Use half of normal Risk (0.5% per Position)
(Remember to add a few pips to all levels - different Brokers!)
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ALAN