ManiSingh

Potential long GBPAUD

Long
FX:GBPAUD   British Pound / Australian Dollar
88 views
1
This pair is in an uptrend - clear higher lows and higher highs can be seen on the daily. Price did break the previous lower high but I expect it to bounce back.

Price has hit daily trendline and we have seen a bullish response, although it has pasted the 61.8% retracement of the last leg, I expect it to close above it.

I can see a potential head and shoulders forming on the lower time-frame which suggests a reversal. A break, retest and continuation of this pattern will be the trigger for a long trade.

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