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The #GBPAUD downward trend continues which could offer short trading opportunities.

Watch the video to learn more…

GBPAUD Analysis

The strength meter this week highlighted the strength of the Australian Dollar despite the market being in a risk off sentiment. The Great British Pound has suffered recently with the currency being the weakest of last week. This could offer short trading opportunities on GBPAUD if the price can retest key supply zones.

gbpaud forex chart of the day

The weekly chart shows the bearishness of the pair at the moment as price forms strong lower lows. This sentiment should continue and looking at the 4hr time frame we can see the market making clear lower lows and lower highs. If the price retests the previous supply zones highlights by the blue rectangles and forms bearish price action we can look for further short trading opportunities.

Do you trade EURJPY? you can see our previous analysis here.

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