GBPAUD weekly 17th July

Prices are currently in downfall

Major Support at 1.6100
If prices continue to consolidate at the 1.65000 I am anticipated that prices will move up towards the 1.8000 level

Also, the Stoch is in the overbought zone which is another indication that prices will reverse soon.

However, If prices break the trend line and fall towards the major resistance level then it could lead to a potential another downfall

Market entry @1.65000
Stop Loss 1.62000
Take profit 1.8000
Risk Reward Ratio 1:5