TomHall
Long

GBP.AUD - British Pound / Australian Dollar - High Confluence

FX:GBPAUD   British Pound / Australian Dollar
Symbol: GBP.AUD - British Pound / Australian Dollar
Timeframe: Weekly, Daily and 4 hour
Predicted Direction: Long ( 1.8400 )

GBP.AUD - British Pound / Australian Dollar updates will be available in the comments section below.
Comment: Price approaching the 4hr 50EMA intraday resistance.
Awaiting price to confirm or deny an entry in the coming hours.
Comment: Perfect example of 'stop hunting'.
The vast majority of traders would have been triggered into the market on the 4hr 50EMA bullback, stopped out some 24 hours later.
Price then stopped out those who got short because of the 4hr ascending trendline breakout.
Nice clean charts.
+1 Reply
TomHall TonyB57
@TonyB57, Thanks very much!
Reply
Nice analysis sir.
I have a similar projection but in a weekly timeframe. I think that if the price consolidates above 1.8 or around 1.84 as you predict it might be reasonable to think that the trend could still continue going up probably to 1.9000
+2 Reply
TomHall alejotrader92
@alejotrader92, I agree, the potential upside is higher than 1.8400 however, it's a key level that must be broken prior to future projections.
Great chart setup, hope your well.
+1 Reply
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