Gbpaudsignal
GBPAUD - EDUCATION - 07. SEPT. 2019Welcome to our weekly market Breakdown ( GBPAUD )!
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1 HOUR
Bearish price action and pressure on friday.
4 HOUR
Market at price consolidation and medium range of price index.
DAILY
Decision area, we need more confirmations for a setup.
OVERALL
Prices done with all possible moves, we need new confirmations and area
fake outs. Expecting prices to form new weekly lows on monday-wednesday
before heading back up to 1.79500 area on thursday-friday or next week!
Will update you as soon as we have some clearer moves.
Good luck
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Have a great week everyone!
ALAN
GBPAUD SetupOANDA:GBPAUD
On the 4h, price has actually just broken down out of the halfway 'regression trend' line and broken out of an important level of up-trending support.
We are currently in a med-term + Long term phase of lower lows and lower highs so i expect this to continue as bears have defeated bullish trend line.
When market opens, I will enter short.
GBPAUD approaching support, potential for a bounce!
GBPAUD is expected to drop to 1st support at 1.77192 where it could potentially react off and up to 1st resistance at 1.78877.
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Losses can exceed the initial investment so please ensure you fully
understand the risks.