Sell GBPAUD UK Interest Rate

the GBP/AUD pair on the M30 timeframe presents a potential shorting opportunity due to the presence of a bearish pennant pattern.

Potential Short Trade :

Entry: Consider entering a short position (selling) below the broken support trendline of the pennant after confirmation. Ideally, this would be around 1.9000 or lower if the price continues to decline.

Target Levels:
1.8871: This target is achieved by measuring the height of the flagpole (initial downtrend before the pennant) and projecting it downwards from the breakout point.
1.8807: This is a further extension of the downside target, based on roughly twice the height of the flagpole.

Stop-Loss: Once the entry point is confirmed, place a stop-loss order above the broken support line of the pennant, ideally with some buffer around 1.9042. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.


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