mcpeacocks
Short

Short GBPAUD at confluence

FX:GBPAUD   British Pound / Australian Dollar
I see confluence of historic downtrend line and 0.618 fib level as last major leg down, as well as historic structure. There also is divergence..... quite a few reasons to short this although RSI and stoch still carry some upwards momentum...

If this does break to the upside, and holds, this would also be a good level to long upon a retest of the same structure, imho.

any ideas, comments, are welcome.

cheers
Trade active
look at this double top on hourly. good moment for entry. stops above the tops.
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