GBP/AUD close to resume the bullish bias

GBP/AUD close to resume the bullish bias

The pair is making a retracement that has helping to develop some fractals across the board, according to the projections in the H1 chart. That’s why we shall not discard the idea of a possible demand area to be found at the 78.6% Fibonacci level of 1.7669. If GBP/AUD manages to rebound at such area, the pair could travel towards the -23.6% Fibo zone at 1.7984. The invalidation point for this forecast lies at 1.7604.

RSI indicator remains in the negative territory.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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