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GBP/AUD Potential Downward Movement

GBP/AUD Long-Term Trend: Bearish

Key Resistance Levels: 1.7591, 1.7662, 1.7759

Key Support Levels: 1.7302, 1.7198, 1.7073

Daily Time-frame:

The price on the higher time frame has been on a downtrend for a few weeks and has shown good momentum. Recently the price did pull back and faced rejection at the resistance level of 1.8185 and broke the support level of 1.7771

GBP/AUD Medium-Term Trend: Bearish

1-Hour Time-frame:

In the lower time frame, the price is moving in the major trend direction. The price has broken a support level of 1.7518 and did a retest to that level before continuing momentum in the bearish direction. We expect a further continuation of the trend.

Signal Idea:

Sell Stop Order @ 1.7445

TP 1 @ 1.7332

TP 2 @ 1.7219

Stop Loss @ 1.7558

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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