GBPAUD
GBPAUD has broken into an uptrend 3 weeks ago and is still looking to make its 2nd higher high. We are currently still consolidating between two support & resistance zones. There are two main possibilities I see can happen to continue this uptrend.
First is it can go up higher in price from where it is now. There is a downtrend trendline zone and 1HR is sitting on the 200 EMA with minor support to the left. Price can go up from here and break and retest the highs to go higher making a new higher high.
Second is it can continue to go down back to the support zone, respect the zone and come back higher breaking the highs and retesting them looking to make a new higher high.
First is it can go up higher in price from where it is now. There is a downtrend trendline zone and 1HR is sitting on the 200 EMA with minor support to the left. Price can go up from here and break and retest the highs to go higher making a new higher high.
Second is it can continue to go down back to the support zone, respect the zone and come back higher breaking the highs and retesting them looking to make a new higher high.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.