📊 GBP/AUD Price Action Update 🇬🇧🇦🇺
GBP/AUD is currently testing a strong resistance zone (supply area) around 2.0486, marked in red.
📌 Key Insights:
🔴 Supply Zone (Resistance): 2.0486 - 2.0490 📍
This level has been tested multiple times but failed to break convincingly, suggesting a potential reversal or breakout scenario.
📉 Bearish Scenario:
If price rejects this zone, we might see a sell-off towards the 2.0397 support level, as marked on the chart.
📈 Bullish Scenario:
If GBP/AUD breaks and holds above 2.0486, it could trigger a further bullish rally. However, a strong rejection from this level increases the chances of a downward move.
⚡ Trading Tip:
Wait for confirmation candles before entering trades. A strong rejection with bearish momentum could signal a short entry, while a breakout with retest could indicate a buying opportunity.
#fxforever #fxf #GBPAUD #ForexTrading #SmartMoney #TechnicalAnalysis #PriceAction #ForexSignals #DayTrading #MarketAnalysis
GBP/AUD is currently testing a strong resistance zone (supply area) around 2.0486, marked in red.
📌 Key Insights:
🔴 Supply Zone (Resistance): 2.0486 - 2.0490 📍
This level has been tested multiple times but failed to break convincingly, suggesting a potential reversal or breakout scenario.
📉 Bearish Scenario:
If price rejects this zone, we might see a sell-off towards the 2.0397 support level, as marked on the chart.
📈 Bullish Scenario:
If GBP/AUD breaks and holds above 2.0486, it could trigger a further bullish rally. However, a strong rejection from this level increases the chances of a downward move.
⚡ Trading Tip:
Wait for confirmation candles before entering trades. A strong rejection with bearish momentum could signal a short entry, while a breakout with retest could indicate a buying opportunity.
#fxforever #fxf #GBPAUD #ForexTrading #SmartMoney #TechnicalAnalysis #PriceAction #ForexSignals #DayTrading #MarketAnalysis
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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.
fxforever
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.