GBP/AUD Long-Term Trend: Bearish
Key Resistance Levels: 1.7527, 1.7568, 1.7653
Key Support Levels: 1.7438, 1.7366, 1.7278
The price on the higher time frame has been in a downtrend for the last few months and recently it did a pullback. The pair faced resistance at the 1.7782 level and reversed the direction. A minor support level of 1.7585 has been broken which indicates a bearish bias.
GBP/AUD Medium-Term Trend: Bearish
On the lower time frame, the pair is moving in the major trend’s direction. The price broke the support level of 1.7653 and continued downwards. It has broken to the downside after a small consolidation between the range of 1.7568 and 1.7527. The lower range has been broken and retested now.
Sell Limit Order @ 1.7509
TP 1 @ 1.7443
TP 2 @ 1.7377
Stop Loss @ 1.7575
Trade Safely 🙂