BluetonaFX - GBPAUD Descending Triangle SHORT Idea
Hi Traders!
The bearish price action continues on the GBPAUD 1D chart, and there may be possible opportunities for short entries.
Price Action 📊
The market has had lower highs and lower lows since breaking below the 20 EMA, creating a descending triangle pattern on the chart.
We are looking for further bearish momentum to break and close the trendline support line and continue to the downside.
Fundamental Analysis 📰
The market's outlook on GBP is currently negative due to weak economic data recently released. The outlook on the GBP looks very negative at the moment, and the demand for the currency is very low.
Support 📉
1.88514: TRENDLINE SUPPORT
Resistance 📈
1.92527: TRENDLINE RESISTANCE
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
The bearish price action continues on the GBPAUD 1D chart, and there may be possible opportunities for short entries.
Price Action 📊
The market has had lower highs and lower lows since breaking below the 20 EMA, creating a descending triangle pattern on the chart.
We are looking for further bearish momentum to break and close the trendline support line and continue to the downside.
Fundamental Analysis 📰
The market's outlook on GBP is currently negative due to weak economic data recently released. The outlook on the GBP looks very negative at the moment, and the demand for the currency is very low.
Support 📉
1.88514: TRENDLINE SUPPORT
Resistance 📈
1.92527: TRENDLINE RESISTANCE
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX