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olly48

GBP/AUD Making Correction, Long Opportunity Coming

Long
British Pound / Australian Dollar (FOREXCOM:GBPAUD)  
olly48  
FOREXCOM:GBPAUD   British Pound / Australian Dollar
Trend Analysis Chart Patterns Technical Indicators GBPAUD gbpaudlong gbpaudtrade gbpaudanalysis gbpaudbuy gbpaudsignal gbpaudidea gbpaudsetup GBP
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trendanalysis chartpattern indicator gbpaud gbpaudlong gbpaudtrade gbpaudanalysis gbpaudbuy gbpaudsignal gbpaudidea gbpaudsetup gbp
This has been due a correction and it is now doing so. This brings the chance to look for a longing position. It is close to 0.382 Fibonacci, just below this could be a good time to buy as it aligns with structure. Need to watch the price action as it could fall to 0.5 Fib as well. Use MACD and EMA's to help judge when the mood is changing back to bullish.

Target is set at the previous high of 1.80159. This aligns with previous support so it is meeting resistance here.

SL is just below 0.5 Fib
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