GBPAUD setup


Private, 1st Class
I will probably remain flat today while waiting for the Fed's decision tomorrow, but nonetheless some setups are worth a look.

On the weekly GBPAUD ended a long bullish trend with a shooting star (a gravestone doji), and is struggling with a supprot trend line.


Now, on the H4 the pair is right above a fib line around 2,145. A bearish break would be a valid siganl to go for the ADR around 2,127. A bullish break out od the 200 SMA around 2,15 would be a signal to enter long back to the 50 fib ressitance around 2,165.

But remember, most probably today everybody will wait for tomorrow Fed rate decision.