GBPAUD Local S/R| Daily S/R| Daily S/R| VWAP| Price Action
Evening Traders,
Today’s analysis – GBPAUD- trading towards a probable double top where a deviation is likely,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- Daily S/R Objective
- Oscillators Bullish Control Zones
- .382 Fibonacci Support
GBPAUD’s immediate price action is impulsive, a deviation back towards the Local S/R that is in technical confluence with the .382 Fibonacci and the POC S/R – allows for a bullish bias.
The immediate objective is the Daily S/R, exceeding this level will increase the probability of a trend continuation.
As of current, both oscillators are trading in their respective bullish control zones, this is indicative of strength.
Overall, in my opinion, GBPAUD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work!
And remember,
“Trade What’s Happening…Not What You Think Is Gonna Happen.” – Doug Gregory
Today’s analysis – GBPAUD- trading towards a probable double top where a deviation is likely,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- Daily S/R Objective
- Oscillators Bullish Control Zones
- .382 Fibonacci Support
GBPAUD’s immediate price action is impulsive, a deviation back towards the Local S/R that is in technical confluence with the .382 Fibonacci and the POC S/R – allows for a bullish bias.
The immediate objective is the Daily S/R, exceeding this level will increase the probability of a trend continuation.
As of current, both oscillators are trading in their respective bullish control zones, this is indicative of strength.
Overall, in my opinion, GBPAUD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work!
And remember,
“Trade What’s Happening…Not What You Think Is Gonna Happen.” – Doug Gregory