Hi Guys
The GBP AUD pair is approaching strong support area and there is a shark harmonic pattern with nice fib ratiosdeveloping that completes around the support cluster.
The red box on the chart is the first entry point of the pattern at 0.886 retracement and the bottom of the box is the limit of the pattern at 1.13.
The thick black line at the bottom is a strong demand zone that also lines up with the 200dma and AVWAP from a previous low that has acted as both support and resistance looking left.
Confluence at previous support zone could result in a strong move from the level where the pattern ends.
Safe trading all
The GBP AUD pair is approaching strong support area and there is a shark harmonic pattern with nice fib ratiosdeveloping that completes around the support cluster.
The red box on the chart is the first entry point of the pattern at 0.886 retracement and the bottom of the box is the limit of the pattern at 1.13.
The thick black line at the bottom is a strong demand zone that also lines up with the 200dma and AVWAP from a previous low that has acted as both support and resistance looking left.
Confluence at previous support zone could result in a strong move from the level where the pattern ends.
Safe trading all