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VasilyTrader
Jun 10, 2020 6:49 AM

GBPAUD: Price Action & Trading Plan For Today Long

British Pound/Australian DollarFXCM

Description



morning guys!

after a sharp, long lasted fall, GBPAUD has finally found strong support.

the price not only managed to stop rallying but, moreover, it has easily violated the last lower high level,
setting a new higher high and establishing a local bullish trend on 1H.

now the price is consolidating in a local horizontal range.

if you want to catch a bullish continuation, the best option is to wait for a bullish breakout of 1.833 level (1H candle close above).
then you can buy on a pullback or aggressively, aiming at 1.8445 (based on 4h/1h structure)


if the market violates the range to the downside, setup will be invalid.
Comments
linegamagroup
seems not as you expected.
TradingExpertFx
Nice work bro!
VasilyTrader
@DaniilSusanin, thank you!
VasilyTrader
Will it go higher?
what do you think?
MGRAELBA
@VasilyPonomarev, Hi, I think it is more likely to go higher.
VasilyTrader
@MGRAELBA, thank you for comment!
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