TRADE SET UP - GBPAUD

Paun British / Dolar Australia (FX:GBPAUD)

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FX:GBPAUD Paun British / Dolar Australia

This pair was consolidating(range bound) for a week after posting high(1.9971) Thursday 17th August 2023.
Resistance was at 1.9930 and finally swept liquidity to the lows yesterday(Tuesday 22/8/23).
a break/retest of the "temporary" support level will see prices test lower supply areas.

Watch the price action.

Happy Trading

Good luck

Komen:

Red Folder Day(High volatility news).

I avoid trading 30-60 minutes before and after RFD news.

There was no chance of catching the sell as price crashed through the lower zone quickly. Wait for a strong Demand zone and watch for price action that signifies a change of trend to the upside. The $64 question is will GA test the high again or is this the beginning of a down move to the 1.95 level.

Penafian

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