GBP/AUD Forex Analysis and Forex Signal

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

W1 – Price reached the top of the channel.

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.
Price broke bullish trend line and is now pulling back for the retest. Have divergence at the top on the 1 hour to help confirm the reversal. Divergence on the daily with a double top to help confirm the reversal. Looking to short.

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!

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