GBP AUD Short idea
After GBPAUD fell towards the support zone of 1.85904 the price has risen by 0.84%. However, on the 4hr chart, it appears price action has formed a head and shoulders pattern, indicating that a drop in price is now likely. On the 4hr chart, there has been a lot of selling pressure that has emerged on the recent candle. This indicates to me that the price is due to drop. The target of this short trade is at the support level of 1.8595 that it has respected before. The stop loss is just above the recent high of 1.882.
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