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British Pound / Australian Dollar
Short

GBPAUD ANALYSIS

By Kelachi
Updated
GBPAUD


NOTE: (MARKET IS REACTIVE AND NOTE PREDICTIVE)
(LIKE AND COMMENT BELOW TO SHARE IDEAS TO SUPPORT )
From a daily perspective we can see price has been ranging.

A possible bearish rectangle is in formation which has happened for days notwithstanding the downward movements on 4 hour timeframe.

In this type of scenario, price is expected to make a move to the downside. A bearish continuation.

REMEMBER: MARKET IS REACTIVE AND NOT PREDICTIVE.

If price can push through the ranging or consolidating zone we can see a further push downward from the box zone.

Also price has clearyl rejected the resistance zone and looking to break the support to the next support zone

Monitor this pair from a 4Hour perspective for entries.

If you have any suggestion, drop in the comment section below.
Trade active
Hello traders, we can observe from the analysis days ago that price obeyed market structure and we were able to profit from this move.

Please stay tuned as I will update you.

Feel free to like, share and drop a comment below.
Trade closed manually
Targets reached. Feel free to trail stop on this pair.
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Kelachi

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