💱GBPAUD - False breakdown and reversal setups
GBPAUD is forming a false breakout and a global reversal pattern that could send the price 400 pips down.
TA on the high timeframe:
1) False breakout of the resistance zone: 1.9183 - 1.9035
2) Price breaks the base of the reversal pattern and forms an impulse.
TA on the low timeframe:
1) The H&S reversal pattern starts the realization phase
2) As the price is in a global flat, we have the potential for a decline to 1.86000
3) Price breaks 1.889, most likely a retest or bounce to 1.8988 before further decline.
Key support📉: 1.8894, 1.8782
Key resistance📈: 1.8988
TA on the high timeframe:
1) False breakout of the resistance zone: 1.9183 - 1.9035
2) Price breaks the base of the reversal pattern and forms an impulse.
TA on the low timeframe:
1) The H&S reversal pattern starts the realization phase
2) As the price is in a global flat, we have the potential for a decline to 1.86000
3) Price breaks 1.889, most likely a retest or bounce to 1.8988 before further decline.
Key support📉: 1.8894, 1.8782
Key resistance📈: 1.8988
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