GBPAUD is testing a key H&S support
GBPAUD is testing a key H&S support 1.8100. A confirmed break below this resistance is giving us a higher probability of the short GBPAUD trade entries. A break above 1.8200 is now required for the upside continuation and a test of Neckline 1.8400 The overall medium-term is sideways and we need to see and a continuation above 1.8400 to see an H&S formation confirmed. Break above this consolidation and confirmation will be a clear indicator of the upside reversal.
Note – We are inclined to short trade entries with the stop loss above 1.8150 if we get a confirmed break below 1.8000.
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