GBPAUD: Consolidation and Complete Indecision
GBPAUD is stuck between two key daily levels.
the price is consolidating within a wide horizontal trading range.
1.814 is the support of the range.
in case of a daily candle close below that,
the price will most likely drop.
target level will be 1.796
1.839 is the resistance of the range.
in case of a daily bullish violation of that,
the price may continue the July's bullish rally.
target level will be 1.853
also note that for intraday trading, you can short the market from the resistance of the range
and buy from its support.
currently the boundaries of the range serve as supply and demand areas.
good luck
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