We have a daily downtrend and we are approaching a strong level of resistance. I believe that the price will bounce from the trendline to complete his way downward. Also from a monthly timeframe we just completed a W formation pattern and the price is almost at the 50% FIB retracement, from that price we expect a strong rejection because it perfectly aligns with a strong resistance by the trendline. This is a 1/4.60 RR setup for the long term.
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GBPAUD
If you enjoyed this analysis smash that like button and share. If you have a different opinion I would love to hear about it in the comment area below.
Trade safe !!
GBPAUD