GBPAUD - Buy Opportunity

GBPAUD is set to reach 1.9350-1.9450. Current Price ~1.9000 is a great buying location as old resistance becomes new support.

This buy is nullified by making a new low in the 1.8880 area

Targets would normally be 1.96000 area as noted, however due to the break of the enormous daily/weekly channel, I'll look for 1.9350-1.9450 to serve as a good target instead.

If price can make it back into the channel, a new analysis/interpretation can be made, until then, expect that area to be well defended.

If you're looking for additional conviction/commitment for this trade please refer to this screen shot



Good Luck!