Hello traders.

One worth watching I would say.
GBPAUD is at an interesting weekly level.
It could drop off from here BUT it also looks like an upside down head and shoulders.
Weekly H&S is a very powerful formation and one not to be ignored.
Some years ago I read a scientific paper on H&S and it stated that H&S is 80% of time correct on weekly timeframe.
Not so reliable on all the other timeframes though.
So there, it doesn't come from me but from people who actually did a paper on the thing.
So, if the market pushes through those weekly tops we have ourselves some longs cooking up and if it drops then shorts are in.

Have a nice weekend everyone and God bless.