A negative manufacturing data from Britain, creates a ripple effect in all the concerning pairs with pound. GBPAUD has witnessed a highest level of change among the peers and is trading below the key resistance level 1.78899 after breakdown of channel pattern in a 1-hour chart. The bearish trend is further underpinned by negative divergence, that is observed with the help of RSI indicator. The pair would get the major support, for today, at 1.78527 and if it crosses this level, then the selling will continue.
Hi guys, have a look at GBP/AUD 60 TF, it's forming a evening star+ CTL break, looks pretty interesting, I just don't have time to snapshot and put it here, put it looks good. Take care and good trades. FX 35.
sir , please kindly help me with dot dot on your chart , i mean evening star ,thanks
Looks like 1.95 could possibly be new area of key resistance (previously strong area of support as seen on chart). Even if you zoom in on 5m chart, you see that area rejected multiple times. Will be good to keep an eye on it..
Joined Mar 2011
Status: Bullish Behavior
GBPAUD is my fave pair because it's so predictable, it pokes above highs then reverses and pokes under lows then reverses, both reverse to the next S/D, or the recent high or low area and go on to poke higher or lower, directly to the left of the current price action, and depending on which time frame you're looking at.
Personally my faves are 2minute, 5m, 10m, 15m, 20m, 30m and the hourly.