What to Expect on GBP/AUD for a Bullish Trade
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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