ddreamz
Short

GBP/AUD further drop

FX:GBPAUD   British Pound / Australian Dollar
111 1 6
Hello,

My idea on GBP/AUD             for this week.

I've noticed that this pair just reached the zone around its previous highs from the daily. I underlined this as a resistance and I also noticed that this reach has been made with some big retracements on its way up. Maybe it looks like a channel on smaller time frames. However, I am looking to short this but as far as possible from the current 1.7650. It is still a daily support and the price respected this zone many of times and it still could be a problem.
Furthermore, it could be channel trendline support. So, this will be my first target area in case I get a good price, the main target would be around 1.7500 or the recent low. Depends on the movement.

Good luck :)
Comment: Looking to sell around 1.7765. I like the slow movement. Let's see if we can get that price.
Comment: It dropped nicely from the second breached zone. However, I didn't have a chance to get in since I expected a higher price.
This thing might go all the way up to 1.78350 (swing H/L) before going down
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