EmpowerTrader
Long

GBPAUD Trade Just Above Final Support Level, Can Price Hold?

FX:GBPAUD   British Pound / Australian Dollar
The pair has fallen sharply during the month of October & November, amid change in risk sentiment. Although price saw a nice pullback yesterday, price is now back at final support level . In addition, Theresa May is currently seeking cabinet support for the Brexit deal right now. The meeting is running two hours over its intended time. Where Theresa May is expected to have a live news conference right after. Therefore, expect to see high volatility going forward.

Trade Step-ups:

Bullish Reversal: Price rejects a break from final support level of the trend. Profit levels to look for are 1.8200 & 1.8600 respectively.

Bearish Breakout: Price breaks final support level , look for consolidation below 1.7800.
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