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GBP/AUD Potential Upward Movement

GBP/AUD Long-Term Trend: Bullish

Key Resistance Levels: 1.89346, 1.90943, 1.91000.

Key Support Levels: 1.88045, 1.86883, 1.86000.

Daily Chart:

The price on the higher time frame found support around the 1.88045 AUD mark where long wicks to the downside has been left showing that the buyers are in full control of the market. We expect a rally from that zone toward the next key resistance level which is 1.89346 AUD.

GBP/AUD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair succeeded to break the bearish channel to the upside where higher lows has been posted that have the shape of double bottom. A lower correction could be seen to the highlighted zone before a new impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 1.88573

TP 1 @ 1.89332

TP 2 @ 1.90943

Stop Loss @ 1.88213

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.

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