GBPAUD - SHORTS

11 May 2020

Looking at long-term shorts and short-term longs on GA this week as we can clearly see price falling into a weekly OB/ Monthly Support, meaning that we can be expecting a reaction move off the level into a shorter term drive upwards which will potentially begin to lose steam at the monthly level above current price before falling lower as the market does not seem able to maintain price higher than 2.0500 as when price was previously at this level, it quickly reversed and failed to make new highs. This is a simple analysis of a new pair, however alongside technical analysis, as long as COVID-19 is continuing, the UK economy will tank and fall lower in my own personal opinion.