GBP/AUD Long-Term Trend: Bullish
Key Resistance Levels: 1.86289, 1.87134, 1.88000.
Key Support Levels: 1.85375, 1.84416, 1.84000.
The price on the higher time frame posted an engulfing bullish pattern near a strong support (1.85363) which led to a breakout of the bearish channel to the upside. A retracement has been posted near this are where we expect a move upward now toward the next key level.
GBP/AUD Medium-Term Trend: Bullish
On the lower time frame, the pair succeeded to break the small bearish channel to the upside where a double bottom has been level. now the market is traded above the 1.85363 AUD level where we expect a slight correction before a new impulsive wave toward the target profits.
Buy Limit Order @ 1.85363
TP 1 @ 1.86289
TP 2 @ 1.87134
Stop Loss @ 1.84900
Trade Safely 🙂