GBPAUD @ MAJOR RESISTANCE - SELLERS U THERE?
GBP AUD has been surging to the upside - now sitting at a major resistance level based off of weekly and daily charts. Looking at the 4 hour you can see a clear bullish trendline but we also have what appears to be a head and shoulders forming. A completion of the head and shoulders could force us to break the trendline which could send us crashing down - on the flip side we could see a third touch of the trend line and a move past the resistance level all the way up towards the weekly level @ 1.82729. I’ll be looking for further confirmation from buyers or sellers before getting involved. Notice how the 50 fib lines up with a previous daily resistance level - potential buying pressure here so this would be a good place to look for TP if u take sells from the top. A break of this level would mean more room to the downside.
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