GBP/AUD Long-Term Trend: Bearish
Key Resistance Levels: 1.8455, 1.8501, 1.8550
Key Support Levels: 1.840, 1.8368, 1.8350
The price on the higher time frame succeeded to post a double top that led to a reversal. The price is traded now below the neckline of this pattern where we expect a correction before the move to the downside again.
GBP/AUD Medium-Term Trend: Bearish
On the 15 mins chart the pair is traded inside a bearish channel where we expect a higher correction to the area of confluence. This area is made of the higher end of the channel and a previous swing low.
Sell Limit Order @ 1.84333
TP 1 @ 1.84029
TP 2 @ 1.83680
Stop Loss @ 1.84485
Trade Safely 🙂