Fxprotrader
Short

GBPAUD Pending Sell Setup At Key Level

FX:GBPAUD   British Pound / Australian Dollar
478 0 21
After a rally price is now testing a long term key level where we have good signs that we may have a reversal. Price is moving in rising wedge while we see a MACD divergence. A breakout below the wedge pattern will trigger a sell trade with stoploss and profit target as shown at the chart.

Entry price: 1.96608
Stoploss: 1.98641
Profit target: 1.91026

If this completes and work well, we should move stoploss at breakeven when we have profit equal to our risk.

Key level:
snapshot
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