GBP/AUD BUY BIAS (RETEST OF 1.81300)
My BIAS for GBP/AUD in the upcoming week will be a BUY.
My reasons behind this are that we had
1.A previous ascending channel which has been broken and rested with a strong Bullish Engulfing Candle following the retest.
2.We are currently travelling above a recent Supply Zone and also a strong daily resistance which we've also seen act as support at 1.81300.
I will be looking to enter this trade upon a retest of our Daily Resistance with targets of 1.82500 (120 Pips)
Stops will be around 1.80900 (40 PIPS)
My reasons behind this are that we had
1.A previous ascending channel which has been broken and rested with a strong Bullish Engulfing Candle following the retest.
2.We are currently travelling above a recent Supply Zone and also a strong daily resistance which we've also seen act as support at 1.81300.
I will be looking to enter this trade upon a retest of our Daily Resistance with targets of 1.82500 (120 Pips)
Stops will be around 1.80900 (40 PIPS)