GBP/AUD: Bearish bat completes in a possible resistance zone!
I am bearish on this pair based on the weekly chart from an important 50% fib level.
This bearish bat on the 4H chart on the right is in line with my bearish bias and since it completes at a possible resistance zone I think this might be a good oppourtunity.
I am taking 3 targets based on fib levels and the fact that this pair could be trading in a range between a support zone below and the forementioned resistance zone above. SL is above X and above 2.2150.
If we break support below then we still might be on our way to complete one of the patterns drawn in the daily chart on the left.
This bearish bat on the 4H chart on the right is in line with my bearish bias and since it completes at a possible resistance zone I think this might be a good oppourtunity.
I am taking 3 targets based on fib levels and the fact that this pair could be trading in a range between a support zone below and the forementioned resistance zone above. SL is above X and above 2.2150.
If we break support below then we still might be on our way to complete one of the patterns drawn in the daily chart on the left.
Trade closed: target reached
