GBPAUD is trading in descending parallel channel pattern. It is trading very near to support the level of channel pattern. We might see a bounce back from the current level towards the minor resistance and then resistance line of descending channel pattern. One can initiate long side trade with a stop loss just below the support line of the descending channel pattern.
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Note – Trade With Proper Risk Management System
Thanks
Vivek
have half a decade of experience as a trader and enthusiastically learning & developing new strategies and convert it into algorithm trading & also analyzing the companies with ESG method.
