GBP/AUD is Bearish Below 1.7707

Dear Traders,

The GBP/AUD has formed a bearish move that should provide continuation only below 1.7707.

As long as the price is below 1.7707 we should see a drop towards 1.7603 and 1.7563. The market is clearly bearish and the price has formed a new low at the Wizz 8. A potential retest is in play as long as the price is held below 1.7707. Only a close above the W L4 – 1.7750 could possibly instill a higher retracement towards 1.7836. Even then the pair will be bearish and rejections will be possible.

The analysis has been done with the CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

cammacd.MTF for €950

Top Performing cammacd sub-system + 3 months of ecs.LIVE

Order Now