GBPAUD has been trading in a downtrend since April 2020 til it found a significant support area at 1.75000 in September 2020. Price then rallied to test the immediate resistance area, and then bounced back off the support area, breaking out of the downtrend to the upside, forming a rising on the D1 time frame. Price action is expected to be respected here, with GBPAUD showing off a continuation move to the upside.
Entry Point 1.77000, Stops 1.76000 & Target 1.81000
Trading ideas are subjective. Individual analysis advice.
Entry Point 1.77000, Stops 1.76000 & Target 1.81000
Trading ideas are subjective. Individual analysis advice.