GBPAUD - sell on 1H - risk/reward ratio --> 4
The market price moves within a down trend channel since middle of October and has shown strong resistance last Friday after up movement was selled out within couple of minutes. We can expect many sellers coming into the market at the drawn sell area which is good short entry.
-stochastic RSI baselines crossed bearish which indicates short term down movement
-MACD baselines crossed bearish which indicates short term down movement
-stochastic RSI baselines crossed bearish which indicates short term down movement
-MACD baselines crossed bearish which indicates short term down movement
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trade cancelled after strong UK economic data release 2 hours before
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
