GBP/AUD W H3 Confluence For New Short Trades

The GBP/AUD might possibly complete the retracement soon and we should see a move down.

The POC zone 1.7599-1.7623 is additionally supported by the W H3 camarilla pivot. We can also see the D H5 resistance which adds to existing confluence. The pair should make a move down towards 1.7521 and 1.7480. If the targets are reached then it will be a decisive point for the pair. Either continuation down to 1.7459 or a move to the upside as a retracement again.

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Cheers and safe trading,

Nenad

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Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.