Hi Traders,
GBPAUD is forming a potential bearish bat pattern, with a D leg completion at 2.11200. At current price we are around 300 pips away from the completion. While this is quite a distance on major pair, GBPAUD has a large ATR and can easily move 300 pips in a day or two. Something to keep in mind. We have RBA rate statement later today at 3:30 GMT, so that will likely give this pair a kick.
Good trading,
Luke
GBPAUD is forming a potential bearish bat pattern, with a D leg completion at 2.11200. At current price we are around 300 pips away from the completion. While this is quite a distance on major pair, GBPAUD has a large ATR and can easily move 300 pips in a day or two. Something to keep in mind. We have RBA rate statement later today at 3:30 GMT, so that will likely give this pair a kick.
Good trading,
Luke
Order cancelled:
Pattern now invalid with the A leg broken.