We've had some great results lately trading GBP short.
We expect this to continue over the coming days until we see prices come in to a key level where we may see some relief to the current downside. GBPAUD 4hr chart is showing a clear down trend with lower highs and lower lows. The key support area sits at 1.7960 with 127.2 Fib extension confluence. If the market was to continue the downtrend this is a key area where we should see the market find some support. Currently the market is sitting at a minor resistance from previous structure lows and 50.0% fib retracement. Looking for the market to continue into the key support.
We expect this to continue over the coming days until we see prices come in to a key level where we may see some relief to the current downside. GBPAUD 4hr chart is showing a clear down trend with lower highs and lower lows. The key support area sits at 1.7960 with 127.2 Fib extension confluence. If the market was to continue the downtrend this is a key area where we should see the market find some support. Currently the market is sitting at a minor resistance from previous structure lows and 50.0% fib retracement. Looking for the market to continue into the key support.