Upcoming downward target for GBPAUD
Observing the 4H, Daily and Weekly chart, price action shows bearish momentum, retracing past the 0.382 fib. level as well.
As seen from Daily and Weekly candles, price seems to reject and unable to breakthrough the CZ at this moment.
The next target I am expecting is the 0.50 fib. retracement level which coincides with support and resistance candles if you look to the left.
Targets are indicated on the chart, with TP 1 @ 1.77900 and TP 2 at 1.77340.
Extended TP @ 1.76750
Timing of entries are important as they will affect your risk:reward ratio and a retrace to the CZ at 1.79300 range is possible before continuing its downward momentum. Upcoming GBP GDP, manufacturing production and other news results, as well as any Aussie-related news (especially the progress of trade war) will affect the movement of this pair.
Disclaimer: Content discussed is for informational purposes only and does not construe an offer or solicitation to engage in any activity regarding the subject matter.
As seen from Daily and Weekly candles, price seems to reject and unable to breakthrough the CZ at this moment.
The next target I am expecting is the 0.50 fib. retracement level which coincides with support and resistance candles if you look to the left.
Targets are indicated on the chart, with TP 1 @ 1.77900 and TP 2 at 1.77340.
Extended TP @ 1.76750
Timing of entries are important as they will affect your risk:reward ratio and a retrace to the CZ at 1.79300 range is possible before continuing its downward momentum. Upcoming GBP GDP, manufacturing production and other news results, as well as any Aussie-related news (especially the progress of trade war) will affect the movement of this pair.
Disclaimer: Content discussed is for informational purposes only and does not construe an offer or solicitation to engage in any activity regarding the subject matter.
Trade fechado: objetivo atingido
TP 1 HIT! Price nicely retraced to 1.79300 before it headed downTrade fechado: objetivo atingido
TP 2 HIT! A sweet 190+ pips from the rejection of CZ!Nota
Extended TP @ 1.76750 HIT!!
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.