ロング

GBP AUD - rejection of 4hour 61.8% Fibonacci

Hello analysts and traders,

Here is a nice opportunity for buys which has happened this morning European session;
What happened? well from the low to the high, take your fibonacci retracement tool and plot the 61.8% zone where we anticipated the buys.
GBP still has bullish potential here to climb into 1.8XX
The rejection happened nicely at 1.78 as expected. This pair has a nice liquidity zone so when entering be aware of a larger stop loss in comparison to other pairs.

here is the updated daily perspective

See our previous idea below;

See the AUD USD

Technicals to assess.
We have a nice technical sell of yesterday but with the AUD USD rebounding in a negative light, the GBP has entered the supply again with a boost from the risk-off aversion.
From the chart below, watch out for the fresh daily zone which has not been truly tested yet. [Update], this has now been tested and rejected from the zone as expected.

The main buy and hold area;

1. Zone 1: - inefficiency
we will be looking at a test of the order block, movement away to keep shorts flowing to keep the imbalance moving towards the zone of a 1.72 redistribution, liquidity to show bears further short options before the lows.
From here we will expect a spring and a test of said springs.
A rejection will occur and then see accumulation phase of price hitting the target on the AUD USD with bullish Aussie.

Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise and clears your mind.

If you like our work, please leave a like or comment. To all our followers, we appreciate the follow and likes.
Regardless we will continue producing analysis.

Thanks,
Team LVPA MMXXI