GBPUSD losing ground after breaking down from 1.2350 key level LAST week. Strong Bearish trend below 1.2350. We can watch any short-term upside retraces for price action sell signals to join the bear. Targeting the next support at price around 1.2000
As we could see AUDUSD price has broke the major support at 0.7540. Currently nice retracing on the FIBO Trendline 61.8%. We could see bearish trend continue to test the next support on 0.7490 in coming week. It would be a big fall if break the next support . Bias on short.
PULL BACK STRATEGY
As I mentioned before , if Gold price couldn't form above 1220, we could see a bearish trend to test again the support around 1180-1200. In my opinion , we could short again at price 1222 with FIBONACCI Retrace 50% (OPTION 1) with confirmation, else (Option 2) We can short at FIBONACCI Retrace 61.8% at price 1212 with confirmation. Give me a...