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GBPAUD Bearish Reversal Underway?
On Tuesday, I wrote about a possible GBPAUD reversal. The weekly bearish engulfing candle from mid-December looked ominous, especially given the multi-year highs that preceded it. Additionally, the price structure on the daily time frame hinted at a possible head and shoulders reversal. I was able to get short with a small starter position at 1.9100, which I announced on the membership site at the time of entry. That position will remain relatively small until I see follow through. More specifically, I want to see GBPAUD sellers take out 1.8900 and 1.8700 over the coming days. The 1.8900 horizontal level has been a ... (full story)