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UnknownUnicorn207971

GBPAUD - 4hour channel

Paun British / Dolar Australia (FX:GBPAUD)  
UnknownUnicorn207971  
FX:GBPAUD   Paun British / Dolar Australia
GBPAUD GBP (British Pound) aud LONG short shortsetup longsetup Parallel Channel nakedforex nakedtrading bounce
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gbpaud gbp-british-pound aud long short shortsetup longsetup parallelchannel nakedforex nakedtrading bounce
GBPAUD in an upward 4 hour channel approaching lower end of the channel

- price could reach the support line drawn on chart where price previously could not go lower and bounce up higher
- OR price could reach bottom end of channel before bouncing up, lower end of channel and support line could meet price at same time making great opportunity to buy. However my bias is leaning towards price breaking support line and bouncing off lower channel line or possibly breaking lower.
- Wait for the market to come to you - buy the bounce or sell the breakout
Penafian

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