Long Term Bullish View on GBP/AUD
Good morning traders! Today we bring you a long-term analysis of the GBP/AUD pair, along with a short-term vision to show you where we recommend taking a bullish position in case you are looking for a trade in that direction.
🔸The price has been in a bullish channel for four years, and a few weeks ago we saw a retest of it.
🔸From there, the price generated a slight rebound, but we consider that it has the potential to initiate a strong movement in the upward direction.
🔸The long-term target is the Resistance zone at 2.0500, but in any case we leave the short-term vision.
🔸In the 4H chart we see that the price broke the Descending Trendline, and is forming a corrective structure. In the event of a breakout to the upside, we may witness a move towards the Resistance zone.
🔸The price has been in a bullish channel for four years, and a few weeks ago we saw a retest of it.
🔸From there, the price generated a slight rebound, but we consider that it has the potential to initiate a strong movement in the upward direction.
🔸The long-term target is the Resistance zone at 2.0500, but in any case we leave the short-term vision.
🔸In the 4H chart we see that the price broke the Descending Trendline, and is forming a corrective structure. In the event of a breakout to the upside, we may witness a move towards the Resistance zone.
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.