GBPAUD Sell gaining ground but needs the 1D MA200 to confirm.

FX_IDC:GBPAUD   British Pound / Australian Dollar
The GBPAUD pair broke below the long-term Channel Up that it has been trading in since the start of the year and a Channel Down emerged as last week we had a rejection on the 1D MA100 (green trend-line). That is the top (Lower Highs trend-line) of the Channel Down and the most optimal sell entry. However the 1D MA200 (orange trend-line) is still supporting, so we need a candle closing below it in order to confirm the sell (earlier confirmation would be the 2nd MACD Bearish Cross).

In that case we will target the 1W MA100 (red trend-line) at 1.8300 (which will also by a symmetrical to the first bearish leg -5.75% drop). If however we close a 1D candle above the 1D MA100 first, we will take the loss and open a buy that will target Resistance 1 at 1.997800).


** Please LIKE πŸ‘, FOLLOW βœ…, SHARE πŸ™Œ and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **


πŸ‘‡ πŸ‘‡ πŸ‘‡ πŸ‘‡ πŸ‘‡ πŸ‘‡

πŸ‘‘Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)

πŸ’°Free Channel

πŸ”₯New service: next X100 crypto GEMS!

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.