GBP/AUD Long-Term Trend: Bearish
Key Resistance Levels: 1.8852, 1.8958, 1.9038
Key Support Levels: 1.8647, 1.8501, 1.8406
The price on the higher time frame has shown a few rejections from the upside after being in an uptrend. Price broke the trendline to the downside and there is a head and shoulder-like formation. All signs of reversal in the trend.
GBP/AUD Medium-Term Trend: Bearish
On the lower time frame, the price has recently broken a support level of 1.8850 with great momentum. After that we saw a retest to the same level and price rejected from exactly that level. This looks like a case of trend continuation.
Sell Stop Order @ 1.8783
TP 1 @ 1.8732
TP 2 @ 1.8657
Stop Loss @ 1.8835
Trade Safely 🙂