GBPAUD

Sep 11 2020

Monthly - 12mth monthly line is down. Feb 2020 failed to make new high, could suggest down trend continues.

Weekly - 13W line is down. Support test level at Jul 2020 13W swing. Breaching this support could suggest further down trend.

Daily - Daily took out XA. Question: Is the IPM over? Will it continue or change?

Stats

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5D Swing approaches Mean and could mean it is 50% chance it will continue.

18D stats suggest the move is not over yet.

Road Map

At this point, I would be cautious as it is Friday and there is no need to hold position over weekend.

The following week should look to test the support level and may consider a small trade in again.