GBPAUD weekly 17th July
Prices are currently in downfall
Major Support at 1.6100
If prices continue to consolidate at the 1.65000 I am anticipated that prices will move up towards the 1.8000 level
Also, the Stoch is in the overbought zone which is another indication that prices will reverse soon.
However, If prices break the trend line and fall towards the major resistance level then it could lead to a potential another downfall
Market entry @1.65000
Stop Loss 1.62000
Take profit 1.8000
Risk Reward Ratio 1:5
Major Support at 1.6100
If prices continue to consolidate at the 1.65000 I am anticipated that prices will move up towards the 1.8000 level
Also, the Stoch is in the overbought zone which is another indication that prices will reverse soon.
However, If prices break the trend line and fall towards the major resistance level then it could lead to a potential another downfall
Market entry @1.65000
Stop Loss 1.62000
Take profit 1.8000
Risk Reward Ratio 1:5
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.