GBPAUD offering pending short position

22 באפר׳ 2015

The pair is moving in an ascending channel that has been tested several times and has held on each occasion. The channel is part of a multi year bull trend and will be difficult to turn around. We have a couple of indications that a trend change may be approaching. RSI has developed a clear down trend and the pair has put in lower High, we might say we have half a signal ! A break of channel and a lower low is needed before we can commit to a trade. Currently we have great potential but low probability. The Point and Figure chart is currently at a double bottom.