GBPAUD WEEKLY OUTLOOK

16. Feb. 2020

GBPAUD had comback into a strong supply zone on the weekly timeframe the black horizontal ray line indicates the resistance that has been tested or is going to test again before a move lower on the pair the zone is more powerful as the 50% fib is in the zone. I will only enter the position once I have confirmation of reversal on the my trading time frame which is the 4 hour looking for a revesal candlestick / chart pattern to enter at the resistance marked on the chart if it carrys on higher will change my bias on the pair for a leg higher to the next supply zone.