The GBP/AUD has formed the POC zone between historical levels of resistance.1.8270-1.8300 is the place where we should look for short entries.–>
However, as the price is dropping, we also need to focus on lower levels. 1.8180 is the final ATR projection low with W L4 camarilla just below at 1.8170. Watch for possible bounces from any of those levels towards 1.8216. If 1.8216-34 hold (but only after 1.8180 has been tested) we should see another drop towards 1.8170 and eventually 1.8096 during the next week. Bears are dominating this market.
The analysis has been done with the
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Many green pips,
Nenad Kerkez aka Tarantula FX
This article was originally posted on FX Empire
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