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British Pound / Australian Dollar
Long

GBP/AUD 4H Chart Analysis: Potential Bullish Continuation

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  1. Pre High: The "Pre High" level is marked as a resistance point that the price previously reached. This level is significant as it acts as a reference for potential reversals or breakouts.

  2. FVG (Fair Value Gap): The highlighted FVG indicates an imbalance or gap between the bullish and bearish orders. This often acts as a magnet for price to fill or at least partially fill the gap, creating a potential area of interest for a trade entry.

  3. Support: The support level is marked slightly below the FVG and Pre High. This level has shown some hold in price, indicating buying interest. If the price continues to hold above this level, it suggests strength and a potential move higher.

  4. Potential Move: The green arrow suggests a bullish move expectation from the current support level. If the price respects the support and continues to show buying pressure, the next target could be the previous highs or new resistance levels above.

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Trend Analysis
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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.