GBPAUD holding below descending trendline resistance. With technical indicators showing room for further bearish momentum, a short term intraday drop below 1st resistance at 1.88495 towards graphical swing low and 1st support at 1.87707 could be possible.
Trading Recommendation
Entry: 1.88495
Reason for Entry:
61% Fibonacci retracement, descending trendline resistance
Take Profit: 1.87707
Reason for Take Profit:
-27.2% Fibonacci retracement, graphical swing low support
Stop Loss: 1.89148
Reason for Stop Loss:
Graphical swing high resistance