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GBP/AUD Potential Upward Movement

GBP/AUD Long-Term Trend: Bullish

Key Resistance Levels: 1.84200, 1.84366, 1.84961.

Key Support Levels: 1.83667, 1.83306, 1.83072.

1-Hr Chart:

The price on the higher time frame found support around the 1.82937 AUD mark where the market posted a double bottom which led to a reversal and a move higher. We can see that the coin posted higher lows which shows that we are in a clear uptrend.

GBP/AUD Medium-Term Trend: Bullish

15-Mins Chart:

On the lower time frame, the price found buyers around the 50 % Fibonacci retracement level after managing to break the bearish channel to the upside. A lower correction could be seen to the highlighted zone before a new impulsive wave toward the target profits.

Signal Idea:

Buy Limit Order @ 1.83471

TP 1 @ 1.84198

TP 2 @ 1.84366

Stop Loss @ 1.83210

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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