Last week, GbpAud broke above the 1.9170-1.9200 resistance zone and reached a high of 1.94.
However, the pair couldn't hold gains and dropped again under this resistance.
Usually, false breaks lead to strong reversals and drop/rise to the next important level and, in this case, the next support at around 1.86.
That being said, traders should look to sell around 1.92, and considering a stop loss above the recent high, a 1:3 risk: reward could be achieved.
However, the pair couldn't hold gains and dropped again under this resistance.
Usually, false breaks lead to strong reversals and drop/rise to the next important level and, in this case, the next support at around 1.86.
That being said, traders should look to sell around 1.92, and considering a stop loss above the recent high, a 1:3 risk: reward could be achieved.
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t.me/intradaytradingsignals
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t.me/FanCryptocurrency
🌟 Premium Contact:
t.me/IacobMihai