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Pound Inggris / Dollar Australia
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GBP/AUD - completed retest now further push lower?

Oleh TheForexFellows
Our analysis earlier in the year suggested that GBP/AUD had broken out of a ascending weekly trend channel to the downside. As is often the case we were waiting for a retest of the trend channel and confirmation that price had entered a bearish phase. That retest was completed in Late-August and since then GBP/AUD has moved further to the downside, posting an exceptionally bearish candle last week. We will now be looking to sell the peaks on this currency pair during any pullbacks. If support at 1.7450 is broken, there is then very little support until 1.6050.
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TheForexFellows

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