GBPAUD - Will Price Break Above the Local Structure Level

FX:GBPAUD   British Pound / Australian Dollar
Trading Confluences
  • Price is at 4-Hour Support Level
  • Price Broke Below the Local Structure Level But The Downtrend failed to Continue and Right Now Price Immediately and Strongly Pushing Back to Local Structure Level and If Price Break Above the Local Structure Level, It is a clear Indication That Telling the Ongoing Downtrend In Invalidated.
  • Mojor Downtrend Line is Also Broken.
  • RSI Shows Clear Divergence

Trade Forecast
We will consider going long if price break and retest the local structure level successfully. We will target the market target area for take-profit but if we face difficulties to achieve 2R from that level we will target the next structure level for take-profit.

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