YGForex

GBPAUD: Short Retest for a BEARISH RUN!!!

Short
FX:GBPAUD   British Pound / Australian Dollar
Our previous GBPAUD analysis went as predicted with a nice rejection off the level we predicted it to be. A good tp before the rejection. Do refer to previous post.

GBPAUD managed to reject off an important resistance level @1.8125 price level. We can see clearly see that BULLISH movement cannot break this strong resistance zone . For now, I will potentially see a lower head forming for a BEARISH drop. A "M" pattern will be what we will be looking for. As of where GBPAUD could potentially move towards 1.7710 support level and potentially testing 78.6 fib level. BEARISH strength seems to be building up so this could give us a good short opportunity!!

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