GBPAUD Local S/R| Daily S/R| Daily S/R| VWAP| Price Action

Evening Traders,

Today’s analysis – GBPAUD- trading towards a probable double top where a deviation is likely,

Points to consider,
- Price Action Impulsive
- Local S/R Support
- Daily S/R Objective
- Oscillators Bullish Control Zones
- .382 Fibonacci Support

GBPAUD’s immediate price action is impulsive, a deviation back towards the Local S/R that is in technical confluence with the .382 Fibonacci and the POC S/R – allows for a bullish bias.

The immediate objective is the Daily S/R, exceeding this level will increase the probability of a trend continuation.

As of current, both oscillators are trading in their respective bullish control zones, this is indicative of strength.

Overall, in my opinion, GBPAUD is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps,

Thank you for following my work!

And remember,

“Trade What’s Happening…Not What You Think Is Gonna Happen.” – Doug Gregory