Looking to play another support rejection GBPAUD
Fundamental case:
Overvalued AUD against Australian equities.
BJ's lockdown extension caused short term selling and I predict GBP will continue up.
Sentiment/PA:
Key level for this pair; just as we're seeing on many other pairs, there's an order block (in yellow) controlling the next wave of direction - this level is holding the selling since 1.9500.
Still a seller's market and a big challenge for a buy case.
Technicals:
Market is rejecting 1.9000, with a small double bottom. Market is neutral at best until price is above demand.
Entry criteria:
A rejection of support.
Make sure to follow my ideas. Follow me on twitter @thecolour_red and instagram @madebyforex. - Happy trading.
Overvalued AUD against Australian equities.
BJ's lockdown extension caused short term selling and I predict GBP will continue up.
Sentiment/PA:
Key level for this pair; just as we're seeing on many other pairs, there's an order block (in yellow) controlling the next wave of direction - this level is holding the selling since 1.9500.
Still a seller's market and a big challenge for a buy case.
Technicals:
Market is rejecting 1.9000, with a small double bottom. Market is neutral at best until price is above demand.
Entry criteria:
A rejection of support.
Make sure to follow my ideas. Follow me on twitter @thecolour_red and instagram @madebyforex. - Happy trading.
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