GBP/AUD Long-Term Trend: Bullish
Key Resistance Levels: 1.8241, 1.8385, 1.8528
Key Support Levels: 1.8111, 1.8008, 1.7898
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.
Buy Stop Order @ 1.8112
TP 1 @ 1.8235
TP 2 @ 1.8385
Stop Loss @ 1.8051
Trade Safely 🙂