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GBP/AUD Potential Upward Movement

GBP/AUD Long-Term Trend: Bullish

Key Resistance Levels: 1.7945, 1.8032, 1.8094

Key Support Levels: 1.7784, 1.7714, 1.7586

Daily Chart:

The price on the higher time frame has been trading in a range after it formed a rejection wick and found support at the 1.6865 level. As of now, the pair has broken the upper range of 1.7796 which indicates a bullish bias.

GBP/AUD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It has recently broken a consolidation zone of 1.7586 and 1.7658 and sustained above that. The pair has now broken and retested a minor level of 1.7784 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 1.7844

TP 1 @ 1.7922

TP 2 @ 1.8078

Stop Loss @ 1.7766

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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