R.Linda Trading - forecast

Trading signals for #GBPAUD → A break of support activates a "Flag" on D1

FOREX forecast
💡Ideas For GBPAUD 🇬🇧/🇦🇺

📈 GBPAUD → A break of support activates a "Flag" on D1

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#GBPAUD breaks the base of the bullish correction, which activates the medium-term pattern "flag" on D1. An impulse is formed and the price updates the local minimum

A weak Pound Sterling (chart on the left) may break its support area and head towards 1.2000, which will trigger a fall in GBPAUD. Based on the overall situation, I can assume that after a local correction to the previously broken channel support, the price may continue its fall to 1.897, then to 1.8800. At the moment, I am interested in the resistance area of 1.9190-1.91800. The price is heading towards this area for a retest. There may be a false breakout or a rebound. Consolidation below this line will be a sell signal.

The moving averages are forming a strong signal, and a retest of MA-50 on D1 is a confirmation of the bearish market sentiment

Support levels: 1.897

Resistance levels: 1.9190, 1.9198

I am waiting for local growth to the mentioned resistance with subsequent fall on the basis of the pattern "Flag".

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#GBPAUD 🇬🇧/🇦🇺


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