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GBP/AUD Rooftop Pattern Spotted in Daily TF

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GBP/AUD Technical Analysis

  • Rooftop pattern on daily
  • The price should move down
  • Targets are M H3 and M L3
  • 1-2-3 Breakout
  1. Double top support
  2. High of the move
  3. New Supportツ
  4. Retest of the swing entry zone
  5. Target
GBP/AUD has formed a rooftop pattern on the daily TF. The pattern has a horizontal or near horizontal bottom with up sloping trend in the first part of the pattern followed by a down-sloping trend in the last part of the pattern. 1-2-3 resembles the roof. The entry zone is around 1.8520. The first target is is M H3 camarilla 1.8375 followed by 1.8250. If the market continues with the trend the final target is M L3 camarilla pivot - 1.8050.