GBP/AUD: Bullish Butterfly patternGreat Britain Pound forming a bullish butterfly pattern with all measure that I use personally my Fibonacci for Harmonics.
So, as EMA 21 and 50 cross right now, this it's signal of bullish reversal.
Now, in H4 timeframe I share this analysis with RSI. because RSI forming a lower high and price action it's in the demand zone that if you see in H1 timeframe, Pound can to climb up.
And finally, I share my Daily perspective that could to happen. But Pound could to go back to $1.8120 AUD (Australian Dollar). Also, for tomorrow it's very important to check our economic calendar and much more about news about UK and Australia news that affect their economies.
But now, in H1 I will being to be cautelous to find up key level that maybe Pound could to make a stop in the trend. Because if we look the -0.618% of Fibonacci, it's an important resistance zone that Pound could to hit $1.8006 AUD exactly in that price and this can be a benefit of 78 pips. But in case that Pound continue strenghten, we could to get over 250 pips in this single trade at the target of $1.8125 AUD. But being cautelous in that key zone of H4 timeframe becuase Pound could to hit until $1.8036 AUD approx. and then can to make a drop to continue in this bearish movement. And also, take note in both timeframe: H1, H4 and Daily timeframe to monitoring this trade to have good decision in this trade.
