GBPAUD: H1 Timeframe BEARISH outlook!!!

Currently, we managed to see a nice rejection off a crucial resistance level @1.8140 price level. This resistance level is rather strong and I will be seeing a retracement from here if GBPAUD will like to break out from this resistance zone. For now, GBPAUD could retrace till 50.0 fib level where testing a support level (as well as 61.8 fib level) is pretty likely if we see a BEARISH continuation after 50.0 fib level. A rejection from 50.0 fib level could also show us that BULLISH strength is still there and could be a signal that price level is consolidating to break this strong resistance. For now, GBPAUD gives us a good sell opportunity.

Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!