GBPAUD is holding below descending trendline resistance. With technical indicators showing room for further bearish momentum, a short term intraday drop below our 1st resistance at 1.90484 towards our 1st support at 1.89791 could be possible.
Trading Recommendation
Entry: 1.90484
Reason for Entry:
23.6% Fibonacci retracement, descending trendline resistance, moving average resistance
Take Profit: 1.89791
Reason for Take Profit:
-27.2% Fibonacci retracement
Stop Loss: 1.91283
Reason for Stop Loss:
78.6% Fibonacci retracement