mcpeacocks

GBPAUD - two scenarios in play

FX:GBPAUD   British Pound / Australian Dollar
looking at two scenarios here.

price action to determine what to do.

Brexit resolution could make this to breakout quite violently to topside, or if that dissapoints, we may see this drop back down. only time and price action will tell.
patience is key.
note that the RSI and Stoch are showing signals over overbought, and that this may come down again, hard.
Trade active: scenario 1 has played out nicely with tp2 hit.


now we are seeing a solid break of the resistance area (3 very bullish candles), and will be looking for a retest of the area to go long (scenario 2)
Trade active: correction happening, and starting to look for potential to go long

Comments

DO WE SEE THIS PAIR REACHING 1.7800
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