Hey Traders!
GBPAUD has been very volatile over the last 48 hours and we are seeing the possibility of a very high probable sell opportunity setting up.
This has potential to be a low risk, high reward trade and we are looking to take sells at 1.837
We have a 61.8 Fibonacci right at the 1.836 price level so to see one last extension beyond is a possibility, but there is a high amount of market structure at this area and we could see the continuation of the move down to retest the demand down within our entire blue rectangle below 1.82500
Target 1.82 / 1.815 if you are bearish
Give yourself room of 30/50 pips for a stop loss
GBPAUD has been very volatile over the last 48 hours and we are seeing the possibility of a very high probable sell opportunity setting up.
This has potential to be a low risk, high reward trade and we are looking to take sells at 1.837
We have a 61.8 Fibonacci right at the 1.836 price level so to see one last extension beyond is a possibility, but there is a high amount of market structure at this area and we could see the continuation of the move down to retest the demand down within our entire blue rectangle below 1.82500
Target 1.82 / 1.815 if you are bearish
Give yourself room of 30/50 pips for a stop loss