GBPAUD to go lower?

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Why it is BEARISH?

  • it seems that there is a not so typical head and should being created which is bearish.


  • price already penetrated the h&s neckline.


  • there is a support line since the end of Aug-18 that had been penetrated and the line is now act as a resistance.


  • there is a pullback to the resistance line and attempt to break it however it is failed and price created a key reversal.


  • together with inside bar from the day before there is good indication that the pair might go lower.


  • initial target profit is somewhere is the area of 1.7350.

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