Long

GBPAUD Buy opportunity emerging

The GBPAUD pair hit our previous Buy Target as presented (see chart below) last month:

GBPAUD Buy signal at the bottom of the Channel Up

The price has now been pulling back within the 7-month Channel Up in search of the next Higher Low. This should be formed at least on the 1D MA50 (blue trend-line) as it did twice before. As a result, we will wait for that buy opportunity and target 2.01500 (1.236 Fibonacci extension).

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