GBP/AUD Long-Term Trend: Bullish
Key Resistance Levels: 1.7749, 1.7871, 1.7935
Key Support Levels: 1.7519, 1.7404, 1.7248
The price on the higher time frame has been in a downtrend and recently we saw a pullback. The pair then traded between a small range of 1.7592 and 1.7390 for some time. As of now, that range has been broken to the upside which indicates a trend reversal.
GBP/AUD Medium-Term Trend: Bullish
On the lower time frame, the price has been in an uptrend for quite some time. The price formed a range between 1.7592 and 1.7430 and we see that the price has broken the upper range. There was small consolidation at that level before the price picked up momentum.
Buy Limit Order @ 1.7631
TP 1 @ 1.7743
TP 2 @ 1.7855
Stop Loss @ 1.7519
Trade Safely 🙂