Gbpaudforecast
GBPAUD / M15 / Technical ChartGBPAUD / M15 / Technical Chart
Click "Like" if you find the information useful. Click follow if you want to stay updated with my ideas.
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight into my trading techniques, you should do your own due diligence and not take this information as a trade signal.
GBPAUD weekly level holds up strongDespite weaker than expected economic releases this morning with month over month manufacturing production dropping 0.2% and no month over month GDP growth, this pair is still rallying. Both last week and the beginning of this week, we tested the weekly level to determine if it would hold up. I have taken this trade last week actually on the retracement and it has since held up. The next potential resistance on the weekly timeframe isn't anywhere nearby so I say we can potentially target 5:1 or better reward to risk ratio. See my comment update for a lower timeframe analysis.
~FinancialGamblR, or at least that's what they call us retail traders