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GBP/AUD Potential Downward Movement

GBP/AUD Long-Term Trend: Bearish

Key Resistance Levels: 1.86828, 1.87467, 1.88256

Key Support Levels: 1.86301, 1.86010, 1.85761

4-Hour Chart:

The price on the higher time frame has been in a downtrend recently after it changed the direction from the1.90310 level. The pair has broken a few levels which suggests further trend continuation.

GBP/AUD Medium-Term Trend: Bearish

30-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 1.88256 and 1.87467 and has sustained below that. As of now the pair has broken and retested a minor level of 1.86828 before continuing the momentum.

Signal Idea:

Sell Stop Order @ 1.86600

TP @ 1.86311

Stop Loss @ 1.86889

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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