Oulook on GBPAUD: Pullback presents an opportunity to sell

3 Agu 2021

Hi everyone, GBPAUD remains under pressure from its daily resistance as well as our H4 descending trend line where we could see a further downside here. A pullback to our H4 resistance at 1.88800 in line with the 61.8% fibonacci retracement presents an opportunity to enter a short, keeping in mind that prices are holding below the resistance area on the daily time frame.