GBPAUD: When Channel Meets Horizontal Trendline

*Sorry, error in the chart numbers. Mistakenly put 0.xxxx instead of 1.xxxx. The below numbers are correct*

GBPAUD
Timeframe: 1D
Direction: Long

Confluences for Trade:
- Price at Horizontal Trendline Support
- Widening gap between EMAs
- Stochastic Oversold momentum
- Fundamentally, BOE has warned that UK may be headed for recession if a no-deal Brexit happens; with this, we will need to assume how would lawmakers think of this situation and will it affect their decision on their vote. AUD may be pressured from continuation of US-China trade talk.

Suggested Trade:
Entry @ Area of Interest 1.7390 - 1.7500
SL: 1.7263
TP: 1.7873
RR: Approx. 2.35 (Depending on Entry Level)


May the pips move in our favor! Good luck! :D

*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.

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Change in market sentiment over the weekend.