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GBP/AUD Potential Upward Movement

GBP/AUD Long-Term Trend: Bullish

Key Resistance Levels: 1.9034, 1.9107, 1.9154

Key Support Levels: 1.8868, 1.8836, 1.8747

Daily Time frame:

The price on the higher time frame is in a strong uptrend and we see a pennant breakout pattern here. Price is holding strongly above the breakout zone that indicating a bullish trend and we may see good momentum after some volume addition.

GBP/AUD Medium-Term Trend: Bullish

1-Hr Time frame:

On the lower time frame, the pair has been in a bullish move and then in a consolidation zone. A break of the upper trendline indicates a continuation in the move. We should expect to see momentum in the price once the chart has breached the price point of 1.8980.

Signal Idea:

Buy Stop Order @ 1.8965

TP 1 @ 1.9124

TP 2 @ 1.9152

Stop Loss @ 1.8885

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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