Forex: AUD/GBP with "sell" opportunities from current levels

02.04.2019 / 10:40

Rating:

AUD/GBP

Time frame: H4

Technical Analysis: The pair was moving upward for a long time. On March 14, 2019 the price peaked and headed south to test long-term support. Once the price reaches its long-term support, it quickly recovered its losses but failed to break the previous high. After a short hesitation, GBP/AUD managed to break the trendline, testing it for the third time, but without going over it. At the same time, the price is below 23.6% Fibonacci, which is designed from the bottom to the top of the upward movement. From here, sales would be more likely.

Indicators: The price is below 50 and 200 EMA, and for the time being they play as strong resistance.

DeM - In neutral territory and does not give signals.

Entry into Deal: From current levels.

SL: 1.8535

Alternative scenario: If the price reaches over 50, 200 EMAs and above the long-term trendline, the price will continue to rise.

Trader Milko Zashev

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Forex: AUD/GBP with "sell" opportunities from current levels

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