GBPAUD: Crucial Rejection!!! BEARISH movement continues...
Today's candle determine a BEARISH continuation from our previous analysis. We managed to secure the BEARISH retest to the support level at our previous analysis. Now, I am seeing a nice BEARISH movement.
What to take note:
Lets first look at the resistance level @1.8125. This resistance level is rather strong with several clear rejection and clear direction for price movement. This rejections also gives us a potential DOUBLE HEAD pattern forming (or "M" pattern) giving us a good BEARISH outlook. Using ichimoku cloud, I can see that price is heading towards the BEARISH direction with an important movement out of the cloud to confirm the BEARISH bias. As of now, im seeing a BEARISH movement towards 1.7700+ price level.
Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
What to take note:
Lets first look at the resistance level @1.8125. This resistance level is rather strong with several clear rejection and clear direction for price movement. This rejections also gives us a potential DOUBLE HEAD pattern forming (or "M" pattern) giving us a good BEARISH outlook. Using ichimoku cloud, I can see that price is heading towards the BEARISH direction with an important movement out of the cloud to confirm the BEARISH bias. As of now, im seeing a BEARISH movement towards 1.7700+ price level.
Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
