GBPAUD: Short GBP
Good Morning Traders!
Today we have a very nice opportunity to short GBP. As we see on the chart we have parallel trend-lines which work as a magnet. What I look is the price to break the support and fall down. There are 2 opportunities to go short: 1. if the price goes to Red Zone we go short- which is a very nice area to sell with the best R/R. 2. if price doesnt go to this reversal zone, we wait the breakout and then sell. Our targets will be the next support level @ 2.1132 area, with the confluence of fibs 1.272.
P.S Keep an eye on todays GBP news, as it will impact on the movement of the GBP market.
Today we have a very nice opportunity to short GBP. As we see on the chart we have parallel trend-lines which work as a magnet. What I look is the price to break the support and fall down. There are 2 opportunities to go short: 1. if the price goes to Red Zone we go short- which is a very nice area to sell with the best R/R. 2. if price doesnt go to this reversal zone, we wait the breakout and then sell. Our targets will be the next support level @ 2.1132 area, with the confluence of fibs 1.272.
P.S Keep an eye on todays GBP news, as it will impact on the movement of the GBP market.
Related publications
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.