Price has reached a major resistance level for the GBP/AUD and had a cross to the downside at the 80 level, on the D1 timeframe. This is a good entry for a short position with a low risk level for the possible trend reversal.
What Others Are Predicting
D1 – Price reached an important resistance zone formed by the fibonacci levels of the waves we have and the top of the W1 channel, bearish divergence.
H4 – Bearish divergence, until the critical zone holds we may look for bearish setups with more bearish evidences in order to join the bears.
My Thoughts!
- Price has reached a strong resistance level on the D1 timeframe.
- Cross to the downside of the 80 level
- Set SL above the previous resistance level of 1.92000
Our short target range is 1.88000 – 1.82000
Cheers to another successful week!