GBPAUD - Short analysis
GBPAUD
Weekly: GBPAUD has been within a Strong ascending channel since September 2016. Price is currently testing the high. It has rejected it earlier this week and is approaching ideal entry once again, facing another possible rejection. Furthermore, Monthly chart shows a clear trend line which is precisely where Price is currently sitting. And finally, GBPAUD showing signs of exhaustion as it approaches the 0.786 FIB level on Daily.
I would personally be in favor of shorting a swing trade for several days. Brexit on 31st of January could mess things up, so please trade at your own risk.
Several hundreds of pips possible reward.
Weekly: GBPAUD has been within a Strong ascending channel since September 2016. Price is currently testing the high. It has rejected it earlier this week and is approaching ideal entry once again, facing another possible rejection. Furthermore, Monthly chart shows a clear trend line which is precisely where Price is currently sitting. And finally, GBPAUD showing signs of exhaustion as it approaches the 0.786 FIB level on Daily.
I would personally be in favor of shorting a swing trade for several days. Brexit on 31st of January could mess things up, so please trade at your own risk.
Several hundreds of pips possible reward.
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