- Weekly trendline broken, possibility for retracement up to the 1.82066 until we see further bearish prices.
- Expect to fall to the 1.79183 zone then rise.
- Resistance lines at 1.80127, 1.81271 & 1.82066
- Strong support line at 1.79597 matching the 618 fib
- previous support lines turning into resistance lines as the ovals indicate making an ideal place for TPs. With the furthest TPs being 1.80893 & 1.82066
- Inverted head & shoulders pattern forming.
- Price currently sat at below moving average
All indications must be met to enter trade as long. As bearish movement still reigns with power, bulls expected to regain strength at 1.79183.
- Expect to fall to the 1.79183 zone then rise.
- Resistance lines at 1.80127, 1.81271 & 1.82066
- Strong support line at 1.79597 matching the 618 fib
- previous support lines turning into resistance lines as the ovals indicate making an ideal place for TPs. With the furthest TPs being 1.80893 & 1.82066
- Inverted head & shoulders pattern forming.
- Price currently sat at below moving average
All indications must be met to enter trade as long. As bearish movement still reigns with power, bulls expected to regain strength at 1.79183.
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GBPAUD
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