GBPAUD has been pushing down from the high of 1.82660 and has now approached a strong 4h support of 1.8000 of 1.79800.
From this level, we are beginning to see the slow down in momentum and some nice structure beginning to form in the 15min chart. Because of this, I am looking for one of two things. either for the pair to break the minor resistance and retest as support or reject from this level and push down further.
Take profit areas are set at the most relevant swing high or swing low and Stop losses will be set when entering a trade.
From this level, we are beginning to see the slow down in momentum and some nice structure beginning to form in the 15min chart. Because of this, I am looking for one of two things. either for the pair to break the minor resistance and retest as support or reject from this level and push down further.
Take profit areas are set at the most relevant swing high or swing low and Stop losses will be set when entering a trade.