GBPAUD - Long Long

British Pound/Australian DollarFXCM

Description

⋅ Jul 7, 2020 4:21 PM

Hey Traders,

GA has now developed nicely with a decent RR opportunity pending having rejected Weekly/Monthly Ascending TL & Weekly Demand (High Value Area)

The Daily time frame is noticeably overextended and has now printed a Double Bottom indicating a potential reversal.

With some nice bullish price action today we can now see the intraday momentum has shifted presenting us with an opportunity to take this long.

Looking for a Wave 3 continuation as part of my RBO (reversal strategy).

Stay alert around 1.8000 for a potential retest.

Upside Targets at 1.8250 & 1.8500

Trade safe : )

Comments

dunnsk22

⋅ Jul 8, 2020 6:42 AM

Really like the look of this mate. Looking at something very similar. Like the idea of £ strength and Aud weakness from a fundamental standpoint! Lets see how this plays out. Price has now broken the previous swing point!