#GBPAUD Short term selling opportunity
Although in long-term view price is in bullish Daily and weekly move, but in short term price managed to form bearish market structure ( I mean 4H and 1H timeframe ) so its possible to look for selling opportunities but with extra cautious.
As we can see in the chart we have valid 4H bearish channel, price recently broke below supportive area which hold price higher for 3 time and now can act as a resistance, price also below 4H EMA and seems like going to test it again, price also around our channel middle line which can also act as resistance.
As we can see in the chart we have valid 4H bearish channel, price recently broke below supportive area which hold price higher for 3 time and now can act as a resistance, price also below 4H EMA and seems like going to test it again, price also around our channel middle line which can also act as resistance.
Trade closed: target reached:
price rejected from resistance cluster and hit our target.
Also price formed new lower low and broke recently formed bearish channel, which can be interpreted as more downside potential for the next week in this pair.
Also price formed new lower low and broke recently formed bearish channel, which can be interpreted as more downside potential for the next week in this pair.
