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British Pound / Australian Dollar
Short

GBPAUD short trade.

By jamstock
Updated
GBPAUD is in a downtrend on daily chart . The price has pulled back and the pin bar indicated that selling pressure has come back into the market at this clear swing level. Looking to enter at a 50% retracement of the previous daily pin bar .

Enter short at 1.7888
SL 1.7977
Comment
Last week got stopped out by just a few pips before price dropped. This can happen. Now we have a possible second chance entry at 1.7890, SL 1.7983
Comment
No bearish follow through so looks like this trade will not work out
Comment
Took a while but finally broke down. Target 1.763
Chart PatternsTrend Analysis

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