GBPAUD broke below ascending trendline support (now resistance). With technical indicators showing room for further bearish momentum, a further drop below our 1st resistance at 1.88446 towards our 1st support at 1.87985 could be possible.
Trading Recommendation
Entry: 1.88446
Reason for Entry:
23.6% Fibonacci retracement, moving average resistance
Take Profit: 1.87985
Reason for Take Profit:
-27.2% Fibonacci retracement
Stop Loss: 1.88824
Reason for Stop Loss:
61.8% Fibonacci retracement, Ascending trendline resistance
