Daily Trend: Down
4H Trend: Range
Analysis: GBPAUD has weakened over the last week and bounced off a tested daily demand to rally (relief) into daily supply. Biased short.
Prediction: I will be looking for a further upside move into the distal end of the daily supply and looking for confirmation to short the pair @ 1.75695.
Price Points of Interest:
4h Supply @ 1.75695
4h Demand @ 1.73991
4h Demand @ 1.73319
This analysis is meant to be educational, inspirational and confirming of your own analysis. Trade carefully, trade wisely by managing your risk exposure.
No set and forget trades allowed.