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Gbp/aud pair has just broken out of a descending triangle formation . A descending triangle presents a bearish technical picture which means that Gbp/aud pair will continue lower and traders can now expect a target price of around 1.6500 for the pair . The above pattern shown in the chart is particularly strong because before breaking out of the support area a tight consolidation or accumulation took place which failed to move the pair higher and so the current breakout has more probability of …
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GBP/AUD classic head and shoulders top
Hello traderrs,
As shown in the chart Gbp/aud pair is exhibiting a classic head and shoulders top patter with a neckline at 1.6780
A very nice short opportunity is in place if this neckline is broken ,traders can look to go short for a target price of 1.6500 .
As shown in the chart Gbp/aud pair is exhibiting a classic head and shoulders top patter with a neckline at 1.6780
A very nice short opportunity is in place if this neckline is broken ,traders can look to go short for a target price of 1.6500 .