GBP/AUD broke support area

GBP/AUD broke support area

2019-11-11 • Updated

  • GBP/AUD broke support area
  • Next sell target - 1.6200

GBP/AUD has been falling in the last two trading sessions – following the earlier breakout of the support area lying at the intersection of the key support level 1.6600 (which stopped the previous minor impulse wave A, as can be seen below) and the 61.8% Fibonacci retracement of the previous sharp intermediate impulse wave (1) from the middle of March. GBP/AUD can then be expected to fall further toward the next sell target at the next support level 1.6200 (low of the previous correction 2 and the target price calculated for the termination of the active correction (2)).


Trade ideas for March 28 - April 1
Trade ideas for March 28 - April 1

Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!

GBP/USD Near Supply Zone
GBP/USD Near Supply Zone

GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.

Aussie Selloff Ahead?
Aussie Selloff Ahead?

AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.

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