SamKent
Long

GBP/AUD Buying Zone

FX:GBPAUD   British Pound/Australian Dollar
81 2 2
The GBP/AUD             is trading lower, and we're waiting for it at a point of confluence between previous support area , 50% retrace of the overall bull move, and a completion of an XABCD pattern. At such a point of confluence, we'd be willing buyers of the pair, aiming to get back towards the 1.900 handle.
Around the 50% retracement there is also a gap. This retracement move will probably fill that gap.
Also, at around the 50% retracement price could bounce off the low of an slow upwards channel started at the 10th of May 2014
+1 Reply
Forget my comment, i thought you were on the daily chart. I see now you're watching 30m timeframe
+1 Reply
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