💱 GBPAUD - Rolling back to strong resistance. Possible rebound
GBPAUD forms a rebound from strong support and seeks to test a key resistance that could send the price down.
TA on the high timeframe:
1) We have a strong uptrend
2) The price forms a technical pullback from 1.9000 and is testing a key support base, a break of which could form a reversal and a deep correction
TA on the low timeframe:
1) Support area at 1.86335 pushes price to resistance at 1.87000
2) The local trend is downward, hence a retest of resistance can form a rebound from the line
3) The key liquidity area that the price may seek may be the support area of 1.85000 and 1.84000
Key resistance: 1.87000, descending resistance line
Key support: 1.86300, 1.8588
TA on the high timeframe:
1) We have a strong uptrend
2) The price forms a technical pullback from 1.9000 and is testing a key support base, a break of which could form a reversal and a deep correction
TA on the low timeframe:
1) Support area at 1.86335 pushes price to resistance at 1.87000
2) The local trend is downward, hence a retest of resistance can form a rebound from the line
3) The key liquidity area that the price may seek may be the support area of 1.85000 and 1.84000
Key resistance: 1.87000, descending resistance line
Key support: 1.86300, 1.8588
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