Wishforme1997

GBPAUD about to fall

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FX:GBPAUD   Libra Esterlina/Dólar Australiano
#GbpAud- False break could lead to a drop

Last week, GbpAud broke above the 1.9170-1.9200 resistance zone and reached a high of 1.94.
However, the pair couldn't hold gains and dropped again under this resistance.
Usually, false breaks lead to strong reversals and drop/rise to the next important level and, in this case, the next support at around 1.86, maybe even further down!
That being said, traders should look to sell around 1.92, and considering a stop loss above the recent high, a 1:3 risk: reward could be achieved.
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