GBP/AUD - Bearish
Monthly
Clear rejections off the 1.7500 level and since then, the last 2 months (including this one) have been bearish. MAs are downward facing.
Weekly
Price has successfully breached and closed below our weekly area of support at 1.6750 with MAs crossing over at the same time.
Daily
Clear lower highs and lower lows indicative of a clear downtrend. Clear shooting start candlestick rejection of the 1.6500 level yesterday with downward facing MAs.
H4
A rejection off the 50% fib level which is also confluent with the 1.6500 rejection off resistance. We broke our CTL AND HAS MAs crossover to the downside. After breaking the CTL, another clear fib rejection off the 61.8% level with a bearish engulfing candlestick.
Clear rejections off the 1.7500 level and since then, the last 2 months (including this one) have been bearish. MAs are downward facing.
Weekly
Price has successfully breached and closed below our weekly area of support at 1.6750 with MAs crossing over at the same time.
Daily
Clear lower highs and lower lows indicative of a clear downtrend. Clear shooting start candlestick rejection of the 1.6500 level yesterday with downward facing MAs.
H4
A rejection off the 50% fib level which is also confluent with the 1.6500 rejection off resistance. We broke our CTL AND HAS MAs crossover to the downside. After breaking the CTL, another clear fib rejection off the 61.8% level with a bearish engulfing candlestick.
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