FX.co ★ Daily Video Analysis: GBPAUD broke below ascending trendline! Further drop incoming!

Today we take a look at GBPAUD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups.

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.