Market Instrument: GBPAUD
Timeframe: H4
Analysis: Technical
Structure: Resistance, Fake Breakout, and Trend Line
Prediction: Bearish
The price has revisited the resistance once again after the recent decline in prices. Here this resistance remains very strong where a previous breakthrough on the resistance has already got faked out. The price is remaining under control below this level since August last year where I still believe here we see a double top and a pullback towards the trend line picked considering the bullish trend formed.
Timeframe: H4
Analysis: Technical
Structure: Resistance, Fake Breakout, and Trend Line
Prediction: Bearish
The price has revisited the resistance once again after the recent decline in prices. Here this resistance remains very strong where a previous breakthrough on the resistance has already got faked out. The price is remaining under control below this level since August last year where I still believe here we see a double top and a pullback towards the trend line picked considering the bullish trend formed.