GBP/AUD simply bought rejected from a key inflection level!

Will this imply a longer-term reversal for the pair?

I’m wanting on the 1-hour chart for clues!

GBP/AUD 1-hour Foreign exchange Chart by TV

A few hours earlier, GBP/AUD bought rejected and turned decrease from the 1.8750 minor psychological deal with.

And why not? As you may see, 1.8750 is true across the R1 (1.8720) of immediately’s Commonplace Pivot Factors.

Extra importantly, it’s additionally close to a earlier assist and resistance degree that now marks a attainable vary resistance zone for GBP/AUD.

Will this imply extra GBP losses towards AUD?

The bearish divergence on the 1-hour timeframe is giving “Let’s gooooo” vibes.

Earlier than you push them promote buttons, although, you also needs to word that the 100 and 200 SMAs are hanging round close to the mid-range ranges AND immediately’s Pivot Level (1.8610) space.

If you happen to actually wish to promote GBP/AUD, then you are able to do it proper now to make the most of the bearish downswing. You’ll be able to then take income as quickly because it hits the mid-range zone or when GBP/AUD begins poppin’ up inexperienced candlesticks.

Really feel like GBP/AUD would sooner bust above its vary consolidation?

You may also place lengthy positions, however you’ll wish to do it as soon as GBP/AUD makes a convincing bullish breakout above the resistance zones that we’ve marked.

Good luck and good buying and selling this one!