GBP/AUD Long-Term Trend: Bullish
Key Resistance Levels: 1.8659, 1.8717, 1.8750
Key Support Levels: 1.8512, 1.8470, 1.8430
The price on the higher time frame managed to break the strong resistance (now support) around the 1.8512 USD mark. This shows that the buyers overwhelmed the sellers especially that the breakout came along with several daily candlesticks above the strong resistance.
GBP/AUD Medium-Term Trend: Bullish
On the lower time frame, the price is traded inside a wedge formation which shows that a continuation of the main trend will be seen after the breakout of this pattern. A lower correction could be seen to the strong support before a rally all the way up.
Buy Limit Order @ 1.8514
TP 1 @ 1.8656
TP 2 @ 1.8717
Stop Loss @ 1.8469
Trade Safely 🙂