GBPAUD: Bearish Wave From Key Level

27 May 2021

Hey traders,

GBPAUD reached a peculiar confluence zone.
We see a nice match between a resistance line of a major rising channel and a horizontal key structure.

As a confirmation, the price broke below a rising wedge on a 4H after a test of a confluence point.

Now I expect a bearish move to 1.811/1.806

If you missed entry, wait for a retest of a wedge's support.

28 May 2021

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Check my new analysis on GBPJPY: