Hi traders, gbpaud is forming possible 4h running flat formation. I expect one more wave to the upside before price reversal and drop. I dont expect price to break previus high at 1.79300, i want to see tap at fib 0.786 so thats where i will close my buys and watch for sells. On 1h time frame i see possible price action (bullish flag) but i want to see one more small push to the downside in order to complete that flag pattern. Gbp index is supporting that analysis, and i see that price is gaining on bullish momentum. I will post 1h chart below, so check it. Stay patient!
Comment:
There is possibility for price to push bit higher and tap fib 0.382 and then drop for one more low in that 1h correction