GBPAUD - Time for Correction?
The GBPAUD cross has been consolidating in a narrow range in the recent weeks and it appears to be ready to break down from this zone. Such moves are usually volatile and follow the side of the breakout. If the GBPAUD cross falls to 1.8140, initiate a short position, targeting the 100 day moving average at 1.78. Another strong support is at previous lows at 1.80 and when the price drops here, you should be safe to move the SL to break even.
Trade closed: stop reached
Stopped out at BE, unfortunately.
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