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Forex: GBP/AUD, medium term analysis
The price has fallen near the 1.9188 bearish confirmation level; The bias is bearish because the price is located below the 1.9457 pivot level -so a break below the 1.9188 would trigger a massive selloff to 1.89196 low (about 280 pips, depending where the breaking will occur). The protective stop loss should be placed on the 1.9457 pivot level, like in the image below.
The price has fallen near the 1.9188 bearish confirmation level; The bias is bearish because the price is located below the 1.9457 pivot level -so a break below the 1.9188 would trigger a massive selloff to 1.89196 low (about 280 pips, depending where the breaking will occur). The protective stop loss should be placed on the 1.9457 pivot level, like in the image below.
