GBP/AUD Short - Daily
Quick analysis after a pretty bad day in the markets. GBP/AUD seems to be continuing a downtrend move. Both 4H and daily charts are respecting the descending resistance line. As you can see we previously had an uptrend within the identified channel, this has broken off to the downside further confirming a possible setup for a short. The consolidation zone is where I would lay my TP. Reversal also identified possible three inside down candlestick pattern, with the 8 day MA being slight resistance for todays candle.
Let me know what you think.
Let me know what you think.
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