GBPAUD is approaching the daily 200 MA at roughly 1.8040/1.8060 - This is also the 50% FIB retracement.
The pair are in a descending wedge pattern which is indicating a reversal, the RSI has also formed a descending wedge.
Entry for a buy at 1.8060 with a stop loss below the moving average at 1.7980
Target area of 1.8500 which is the 78% FIB
Potentially 400-500 PIPS up for grabs!
The pair are in a descending wedge pattern which is indicating a reversal, the RSI has also formed a descending wedge.
Entry for a buy at 1.8060 with a stop loss below the moving average at 1.7980
Target area of 1.8500 which is the 78% FIB
Potentially 400-500 PIPS up for grabs!