GBP/AUD Long-Term Trend: Bullish
Key Resistance Levels: 1.83072, 1.83267, 1.84000.
Key Support Levels: 1.82669, 1.82384, 1.82000.
The price on the higher time frame succeeded to break the key resistance level (now support) around the 1.82693AUD mark with the help of an engulfing bullish pattern near the support. This shows that the market is clearly controlled by the buyers where further movement to the upside could be seen in the coming hours.
GBP/AUD Medium-Term Trend: Bullish
On the lower time frame, the bulls manage to break the bullish flag pattern to the upside and now the price traded above the key resistance area in a small range. The market found more bulls around the 61.80 % Fibonacci retracement which could lead to a move higher. Before this move a lower correction could be seen to the new support.
Buy Limit Order @ 1.82583
TP 1 @ 1.83046
TP 2 @ 1.83267
Stop Loss @ 1.82352
Trade Safely 🙂