GBP / AUD:29.01.2013 10:47HRS

GBP / AUD:

This pair is in a down trend,with price is making lower highs and lower lows.

Chart below:

In the past 24hrs price has broken down through the averages and pivot points and I am looking for a short trade as detailed below

Levels and Chart below:

1st Entry: 1.5070
2nd Entry: 1.5090

Averaged Entry: 1.5080

Stop Loss: 1.5130

1st Target: 1.4830 (5%)
2nd Target: 1.4730 (Previous low & 7%)

 

 

I will update again should my orders be filled.

 

Regards