GBP/AUD projected to resume the bullish trend

GBP/AUD projected to resume the bullish trend

GBP/AUD is finding demand between the 1.8052 and 1.7916 levels, which coincides with the Fibonacci areas of 50% and 65% respectively, giving the demand needed to resume the overall bullish bias. To achieve that, the pair should break above the 200 SMA at H1 chart in order to put the focus towards the Fibonacci level of -23.6% at 1.8722. However, if the lows from May 4 give up, then a leg lower to test the 1.7792 level (78.6%) could happen.

RSI indicator is hovering around the overbought territory.

GBPAUDH1.png

Similar

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...

gbp

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera