Another GBP Pair bearish sentiment
GBPAud
1.Price Formation: The price has broken down from a H&S or Descending Triangle price formation on a daily chart.
2.Moving Averages: The 7-day moving average (MA) is below the 21-day MA, which is a positive sign indicating bearish momentum.
3.200-day Moving Average is above the Price and just above the 21MA.
4.Thus, Mas 7<21<200
5.Relative Strength Index (RSI): The RSI is <than 50, indicating bearish momentum and potential further downward movement.
6.Price Target: 1.79108
1.Price Formation: The price has broken down from a H&S or Descending Triangle price formation on a daily chart.
2.Moving Averages: The 7-day moving average (MA) is below the 21-day MA, which is a positive sign indicating bearish momentum.
3.200-day Moving Average is above the Price and just above the 21MA.
4.Thus, Mas 7<21<200
5.Relative Strength Index (RSI): The RSI is <than 50, indicating bearish momentum and potential further downward movement.
6.Price Target: 1.79108