Despite the
two doji candlesticks that GBP/AUD had formed on the weekly time-frame at the
support at 1.7900 the pair broke out below that level and continued moving to
the downside. Currently the pair has almost reached the next major support
level, which is at 1.7565 and coincides with the (MA)89 indicator on the same
time-frame. The question is, obviously, whether there will be a breakout below
that level too. If there is one the pair will likely continue falling towards
the next support at 1.7260. On the other hand, if it bounces off from the
aforementioned indicator it could rise back towards the last high at 1.8505.
I fully agree with you assessment.
ReplyDeleteVery impressive drop so far.
ReplyDeleteCongratulations for your accurate analysis.
ReplyDelete