GBPAUD Broadening Wedge| Local S/R| Swing High| Price Action
Evening Traders,
Today’s analysis – GBPAUD- trading in an ascending broadening wedge where a bullish break is probable,
Points to consider
- Price Action Impulsive
- Local S/R Support
(.50 Fibonacci and 200 MA Confluence)
- Swing High Objective
- Oscillators neutral
GBPAUD’s immediate price action is impulsive, trading in a bullish pattern with technical support being the Local S/R and the .50 Fibonacci alongside the 200 MA – allowing for a bullish bias.
The Swing High is the current objective, exceeding this level increase the probability of a trend continuation.
Both oscillators are trading neutral, remaining in their bullish control zones is indicative of strength.
Overall, in my opinion, GBPAUD is a valid long with defiend risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“You never know what kind of setup market will present to you, your objective should be to find opportunity where risk reward ratio is best.”
― Jaymin Shah
Today’s analysis – GBPAUD- trading in an ascending broadening wedge where a bullish break is probable,
Points to consider
- Price Action Impulsive
- Local S/R Support
(.50 Fibonacci and 200 MA Confluence)
- Swing High Objective
- Oscillators neutral
GBPAUD’s immediate price action is impulsive, trading in a bullish pattern with technical support being the Local S/R and the .50 Fibonacci alongside the 200 MA – allowing for a bullish bias.
The Swing High is the current objective, exceeding this level increase the probability of a trend continuation.
Both oscillators are trading neutral, remaining in their bullish control zones is indicative of strength.
Overall, in my opinion, GBPAUD is a valid long with defiend risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“You never know what kind of setup market will present to you, your objective should be to find opportunity where risk reward ratio is best.”
― Jaymin Shah
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