GBPAUD SHORT SETUP.

I think we've a number of opportunity to ride a few trend that might run for long going through the ending of the year into the new year 2021, i find GBPUAD to be one of the pair that's already picking a direction of movement going into the new year.

GBPUAD is yet in his all time downtrend since year 2000 till date, In June 2020 we saw price break below this BEARISH FLAG holding since 2016, while sellers have been defending the support turn resistance zone @ 1.8500 with several retest holding.

I think GBPAUD is ready for the next short run as we've this BEARISH FLAG on the daily and 4H chart which a break below will definitely set price lower, we saw a break below the said BEARISH FLAG on Friday, indicating a weekly close below the FLAG.

I will be looking out for what the monthly close will look on Monday.
A retest holding of the support line of the FLAG ON 4H chart will set price lower with possible TP1 @ 1.7500 , while the long term target will @ 1.6000, with stop loss around 1.82230 zone giving the trade enough room run, it will be a long term trade for me actually, i hope to hold it for as long s possible.