GBPAUD Forecast for the week 23rd April, 2014

GBPAUD Forecast for the week 23rd April, 2014

Weekly Chart

• On the weekly, we are flirting around s/r / 1.80 level
• Of the most recent bullish swing, we have held at the 50% retrace and would like price action to break back up above the 1.80 level for continuation up towards1.9-2.0

Daily Chart

• We are trading in a descending Chanel , however with the fib expansions of the high to low swing , we have hit the FE100 level which also has a confluence of a ascending trend line
• We have some strong resistance where we have a 38.2 and 50 overlapping fib at 1.830
• below that we have the monthly pivot and the descending channel line

Hourly Chart

• We need a clear break above 1.830 before any long position 

Outlook Trade opportunity

• We need a clear break above 1.830 before any long position 

Risk Level Medium

Tips -

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