FX:GBPAUD British Pound/Australian Dollar
We have created a strong supply imbalance at the 2.06 level. When we get a massive move out of a level we know there is large imbalance so we will look for confirmation with candle bodies closing inside the zone (wicks outside ok, expected for hitting stops.) Price action will be extra confirmation, along with 61.8 level.
Trade active: Short executed last night. First tp at 2.00173. If it looks primed for a further move lower we can expect a move down to the 1.97 area.
Trade active: Looking primed for a further move down, Selling the pullbacks with confirming price action.