GBP/AUD Long-Term Trend: Bearish
Key Resistance Levels: 1.91286, 1.95159, 2.02522.
Key Support Levels: 1.89733, 1.87752, 1.85224.
The price on the higher time frame faced a strong resistance around the 1.91286 USD and a doji bar has been posted which led to a move lower. We are expecting to a further movement to the downside in case the sellers continue to control the market.
GBP/AUD Medium-Term Trend: Bearish
On the lower time frame, the price managed to break the bullish channel to the downside by posting a double top formation near the resistance. the price is expected to post a higher correction to the highlighted zone before an impulsive wave to the downside.
Sell Market Order @ 1.90542
TP 1 @ 1.89767
TP 2 @ 1.87752
Stop Loss @ 1.90858
Trade Safely 🙂