The GBPAUD has been trading heavily lower on both the daily and 4hr charts. The best play in this market is to trade with this down-trend and look for opportunities to short at logical resistance areas.
Price overnight on this pair has smashed through support. Price Action traders can look for price to rotate higher back into this old support to see if it holds as new resistance. Should solid bearish price action present at this key area, it could be a hint for the trend to continue lower.
GBPAUD 4HR CHART – 13 NOV 2012
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