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Lingrid
Mar 3, 2021 7:35 AM

GBPAUD good position for BUY trade Long

British Pound / Australian DollarFOREX.com

Description

After the growth spurt in the last year's pair, the price fell into the zone between the two strong resistance levels of 1.838 and the equally strong support line formed in 2013. Moving between them, the price also broke through the level of 1.785.

After another touch of the resistance level, the price reached the support level of 1.785 and this is an excellent position to open a buy trade! I never tire of reminding you of the importance of SL - look for it around the 1.757 support line.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Comments
UnknownUnicorn15614419
Cool! I am confident in your prediction, as I see that these levels are really strong! Perhaps only TP less? 1.826?
Lingrid
@TradingStat, you can consider this option
Solldy
The resistance level has become even stronger! Do you also see how the price of June cannot rise above the level?
Lingrid
@Solldy, hmm... time will tell
DeGRAM
At the beginning of the day, there was information on the rate of GDP growth in Australia.

Did this affect the position of the AUD in the pair?
Lingrid
@DeGRAM, it is insignificant, but you can notice the changes
TradingAlchemist
how can i buy break even?
Lingrid
@TradingAlchemist, correctly set a stop loss and it will be the best protection for you
Henry_Ross
Cool, agree you work!
Lingrid
@Henry_Ross, welcome)
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