Well, we kept urging for GBPAUD's weakness ever since the formation of gravestone doji and hanging man patterns in last September and November, now almost within 1-months time frame, it has shown declines of 0.37% (from 1.8706 to the current 1.8636 levels).
Refer below links for more readings on our earlier posts:
www.econotimes.com/F...cue-from-dips-180331
www.econotimes.com/F...erim-upswings-101818
www.econotimes.com/F...dips-underway-104951
It is now on the verge of reaching 1.8372 levels (i.e. 50% Fibonacci levels).
To substantiate this bearish environment, leading oscillators are still converging downwards with current falling price fluctuations.
The daily current prices dips have been testing resistance at 7 & 21DMAs every now and then to evidence bearish impact of above mentioned candle patterns.
Volumes build up on monthly is mammoth which is in conformity to the bear trend.
Since, another lagging indicator has also just shown bearish crossover the prevailing bearish trend likely to prolong further.
As we see no signs of proper buying sentiments, we maintain our long term bearish targets at 1.8372 levels towards south.
One can eye on option tunnels for speculation which is a binary version debit put spreads that consists of longs in ITM binary put strikes and shorts in OTM binary put strikes.
Alternatively, phased shorts in mid-month futures are also conducive for above mentioned targets.
Refer below links for more readings on our earlier posts:
www.econotimes.com/F...cue-from-dips-180331
www.econotimes.com/F...erim-upswings-101818
www.econotimes.com/F...dips-underway-104951
It is now on the verge of reaching 1.8372 levels (i.e. 50% Fibonacci levels).
To substantiate this bearish environment, leading oscillators are still converging downwards with current falling price fluctuations.
The daily current prices dips have been testing resistance at 7 & 21DMAs every now and then to evidence bearish impact of above mentioned candle patterns.
Volumes build up on monthly is mammoth which is in conformity to the bear trend.
Since, another lagging indicator has also just shown bearish crossover the prevailing bearish trend likely to prolong further.
As we see no signs of proper buying sentiments, we maintain our long term bearish targets at 1.8372 levels towards south.
One can eye on option tunnels for speculation which is a binary version debit put spreads that consists of longs in ITM binary put strikes and shorts in OTM binary put strikes.
Alternatively, phased shorts in mid-month futures are also conducive for above mentioned targets.
