GBPAUD was moving in a progressive uptrend on the weekly chart. Price was pushing towards recent resistance levels, forming a double top with the previous highs and so bulls were running out of steam. On the weekly time frame, a support trendline was drawn in order to target where a possible short trade would move towards as I anticipated a bearish pullback towards the support line.
Trade closed: target reached
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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.