Bullish outlook on GBPAUD: 25 April 2022

On the H1 time frame, prices are showing bullish order flow, with higher highs and higher lows being formed. A pullback to test the support at 1.75822, in line with the 127.2% Fibonacci extension, 78.6% fibonacci retracement and ascending trend line provide an opportunity to play the bounce to the next resistance target at 1.79551, in line with the 200% Fibonacci extension and 78.6% Fibonacci retracement. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.