Something for Aussie bulls.

GbpAud Daily Chart

After coming off this Month's MM3, we saw price form a reversal pattern and only broke the neckline yesterday. Monthly swing target at MM1

GbpAud H4 Chart

Market action moving averages have showing a very bearish sentiment since last week's cross. And they have been acting as good mediums of dynamic resistance. Having reached the weekly bearish target, price is now at the role reversal, 1.68000 at WM2. On that level we have confluence between WM2, MPP, DR1, 50% fib level, 21 and 200 moving averages.

GbpAud H1 Chart

Price is at a key resistance pivot for the day, DR1. With Stochastic divergence I'm expecting price to start moving low from here on. for a more conservtive entry, drop to your M15/M5 charts to start looking for reversal patterns.

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