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 🙂