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 🙂