GBP AUD what did the TITANIC do? GA will show us....
1.84344 area of STRONG resistance... how can people not trust such a strong level? must be drinking too much fluoride.
Anyway... we have marked on our chart with purple arrows where price has hit this resistance level and then bounced, historically once price has hit this level there have been aggressive sells ( price drops considerably ) This tells me that the big players have set orders at this level, so why don't we jump on and enjoy the money making ride :p
Price did break in October then came down to retest resistance as support, price then broke through our level and sank quicker than the Titanic.
Recently ( Friday ) price finally made it back up to this level and again failed to break out and close above, we had a fake out where price went above 1.84344 but the bears soon pushed it below just in time for market close.
Due to hoe strong this resistance level is and the long upper shadow on the previous daily candle we can only see further movement to the downside.
Anyway... we have marked on our chart with purple arrows where price has hit this resistance level and then bounced, historically once price has hit this level there have been aggressive sells ( price drops considerably ) This tells me that the big players have set orders at this level, so why don't we jump on and enjoy the money making ride :p
Price did break in October then came down to retest resistance as support, price then broke through our level and sank quicker than the Titanic.
Recently ( Friday ) price finally made it back up to this level and again failed to break out and close above, we had a fake out where price went above 1.84344 but the bears soon pushed it below just in time for market close.
Due to hoe strong this resistance level is and the long upper shadow on the previous daily candle we can only see further movement to the downside.