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GBP/AUD Potential Upward Movement

GBP/AUD Long-Term Trend: Bullish

Key Resistance Levels: 1.87590, 1.89341, 1.91314.

Key Support Levels: 1.85917, 1.84134, 1.82572.

Daily Time Frame:

The price on the higher time frame found support around the 1.84000 AUD mark which coincides with the 61.80% Fibonacci retracement level. the market succeeded to break the 1.86000 AUD level by closing above it. This shows that the buyers are in clear control of the market and could push further to the upside.

GBP/AUD Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the price succeeded to break the bullish flag formation to the upside after founding buyers near the 61.80% Fibonacci retracement level. a lower correction could be seen to this are before a new bullish impulsive wave toward the target profits.

Signal Idea:

Buy Limit Order @ 1.86094

TP 1 @ 1.87204

TP 2 @ 1.89341,

Stop Loss @ 1.85578

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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