GBP/AUD ANALYSIS + POTENTIAL SHORT POSITION!

14 thg 1, 2021

GBPAUD has been moving strongly to the upside for some time now creating consistent LH and HH, confirmed with the multiple bounces off the trendline. Price has been ranging throughout the London and New York sessions today, however at 5PM GMT the market has broken out of a major 4H support zone @1.75700. A bearish candle closed below 1.75700 on the 1H timeframe which indicates further downside potential. There is now a retest taking place of the 1.75700 zone, if this candle closes bullish but below 1.75700 then I am confident that the market is going to move further to the downside towards 1.75400 and I will be looking to enter a SELL position.

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