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GBP/AUD Potential Upward Movement

GBP/AUD Long-Term Trend: Bullish

Key Resistance Levels: 1.8241, 1.8385, 1.8528

Key Support Levels: 1.8111, 1.8008, 1.7898

Daily Chart:

The price on the higher time frame is trading by posting higher highs and lows and recently managed to break the daily resistance around the 1.8111 USD mark. Currently, the pair is posting a correction count before moving upward again.

GBP/AUD Medium-Term Trend: Bullish

On the 4-hr time frame, the price is trading inside a bullish channel formation where a lower correction is being formed. We have an area of confluence between the 50% Fibonacci retracement level and the support @ 1.8111 USD level. This could lead to a bounce and then move upward toward the 1.8235 USD mark.

Signal Idea:

Buy Stop Order @ 1.8112

TP 1 @ 1.8235

TP 2 @ 1.8385

Stop Loss @ 1.8051

Trade Safely 🙂

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.

5 comments

  1. Rocco van der Veer

    I keep getting:

    Open price you set must be differ frommarket price by at least 20 points I ahve not been able to plce any trades so far

  2. What is the difference between

    Buy stop/ stop buy

    And

    Buy limit / stop limit

  3. Rocco van der Veer

    Hi I am struggling to place those orders I keep getting errors where can I get support? Maybe a telegram chat for VIP users is a good idea?

  4. Telegram post says AUD/NZD.

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