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/AUD reversed from support area
2019-11-11 • Updated
- GBP/AUD reversed from support area
- Next buy target - 1.8500
GBP/AUD recently reversed up from the support area lying between the key support level 1.8200 (former support level from January which also reversed the previous intermediate impulse wave (A) earlier this month, as can be seen below), upper trendline of the daily up channel from January and the 38.2% Fibonacci retracement of the upward impulse (iii) from March. GBP/AUD is expected to rise toward the next buy target at next resistance level 1.8500.
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.
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.
Bullish Scenario: Buys above 17910 with TP:18098.07, TP2:18277, and TP3: 18415 Bearish Scenario: Sells below 17850 with TP1:17730, TP2: 17700
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