Looking to go long on the GBPAUD with a divergence trade. Similar setups happening with GBPNZD & GBPCAD
1. Price testing the weekly support level and price action literally stopped at this support for the last 7 days.
2. On the daily time frame we can see hidden continuation divergence forming. Histogram bars are also showing signs of weakness from bears.
3. H4 has also confirmed reversal divergence with potentially a triple confirmation.
4. AUD trade balance out of the way and in favor of long trade. NFP news tonight should not affect this pair.
5. Enter in on reversal (preferably strong) price action to go long on this.
6. Target at ~1.76
1. Price testing the weekly support level and price action literally stopped at this support for the last 7 days.
2. On the daily time frame we can see hidden continuation divergence forming. Histogram bars are also showing signs of weakness from bears.
3. H4 has also confirmed reversal divergence with potentially a triple confirmation.
4. AUD trade balance out of the way and in favor of long trade. NFP news tonight should not affect this pair.
5. Enter in on reversal (preferably strong) price action to go long on this.
6. Target at ~1.76