GBPAUD Trade Idea

RachelFX

Active member
GBPAUD Short
Price has finally come back up to the double top neckline, after completing the push down.

I am looking for a short set-up here, from current price level at the resistance with the golden cross of the 200 and 50 EMA above. The daily close may provide an entry or drop down to lower timeframe for a tighter entry.

Or a second option is a deeper retracement to the 50% fib and retest of the 50 EMA.

There is GBP red folder news on the agenda Thursday this week so as always good trade management needed to mitigate risk.
 

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