Good morning traders, today we bring you our analysis in GBP/AUD, since we consider that it has upward potential in the short term if certain conditions are met.
🔸First, we see that the price tried to penetrate the long-term Ascending Trendline to the downside, but was unable to consolidate below. In fact, both attempts failed and it was placed inside it again.
🔸After that, it broke the Descending Trendline.
🔸Since then, all we've witnessed is a consolidation of the price.
🔸What we are waiting for is a bullish breakout from the current correction.
🔸If that happens, we expect a bullish move towards the next resistance zone at 1.8400-1.8500.
🔸First, we see that the price tried to penetrate the long-term Ascending Trendline to the downside, but was unable to consolidate below. In fact, both attempts failed and it was placed inside it again.
🔸After that, it broke the Descending Trendline.
🔸Since then, all we've witnessed is a consolidation of the price.
🔸What we are waiting for is a bullish breakout from the current correction.
🔸If that happens, we expect a bullish move towards the next resistance zone at 1.8400-1.8500.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.