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myronemoyo

GBPAUD - 1.7600 still holding

Long
British Pound / Australian Dollar (FX:GBPAUD)  
myronemoyo Updated   
FX:GBPAUD   British Pound / Australian Dollar
Trend Analysis Chart Patterns GBPAUD
2
0
trendanalysis chartpattern gbpaud
Looking at the chart the market GBPAUD has created new short term highs - but returning to 1.7600 about 4 times as we see the price repeatedly getting rejected from that level. We look to see price move to the 200MA, although capped by the 100MA

Looking for further cues as to whether 1.7600 will hold.
Comment:
Strong 2H Close - Bearish Engulfing
Rejection wick on 4H. Closed at 1.76340

Bullish Bias
Comment:
Price broke below 1.7600 - Still within the demand zone...
Comment:
Price is supported around the 1.7550 region. Seems to be holding just below 1.7600. Will either close later today or hold through to next week if price can break above 1.7600 and use as support
Comment:
Still in it to win it...

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