GBPAUD
GBPAUD has been consolidating between these two support and resistance zone for quite some time. We are still waiting for price to form a higher high. I see three main possibilities for this pair this week.
1) Price can come up and break the resistance zone, retest and go higher forming the next higher high.
2) Price can break the support zone and head lower making the higher low deeper.
3) Price can go up to the resistance zone and respect it coming back down and continuing the consolidation.
1) Price can come up and break the resistance zone, retest and go higher forming the next higher high.
2) Price can break the support zone and head lower making the higher low deeper.
3) Price can go up to the resistance zone and respect it coming back down and continuing the consolidation.
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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.