GBPAUD UPDATE
Notice the daily chart now. There have been 7 attempts at the bottom of the range that resulted in price reversing back to the top the range. Each time that happened, the daily candle closed ABOVE this buy zone at the bottom of the range. Today’s daily candle looks to close INSIDE this buy zone. This looks to be a very bearish development and I expect price to break below 1.5750 and fall toward the next quarter point at 1.5500 with 1.5600 as the next significant level of support.
This played out beautifully on Friday. Read my full analysis at StockTwits FX.
