GBPAUD Bearish Liquidity Hunt is Afoot!
I have essentially been a "permabull" on GBPAUD since Jan of this year on this pair, even after the full bearish reversal of the late January bullrun at the beginning of Feb (Sell off from the 1.97 zone). Now I'm looking for the sell.
Banks & Institutions trade both long and short at the same time to maximize profits and well as pain on retail traders. The 1.97 handle was revisited again, highs broken and then sold off again after liquidity was cleared out and banks mitigated their positions. The pullback to the current region (1.96/1.966) could very well be the final retest before we go back to collect the liquidity left below at the 1.915 (major daily support) as well as 1.905. Only a new high above 1.98 implies further bullish momentum.
Unsettled liquidity still exists at the 1.88 levels as well but I will be looking to exit at the 1.915 level as there will be a violent reaction. A break and retest of this zone would offer more selling opps for the levels previously mentioned.
Banks & Institutions trade both long and short at the same time to maximize profits and well as pain on retail traders. The 1.97 handle was revisited again, highs broken and then sold off again after liquidity was cleared out and banks mitigated their positions. The pullback to the current region (1.96/1.966) could very well be the final retest before we go back to collect the liquidity left below at the 1.915 (major daily support) as well as 1.905. Only a new high above 1.98 implies further bullish momentum.
Unsettled liquidity still exists at the 1.88 levels as well but I will be looking to exit at the 1.915 level as there will be a violent reaction. A break and retest of this zone would offer more selling opps for the levels previously mentioned.