GBPAUD Market Outlook | Daily Forex Market BreakdownGBPAUD
GBPAUD is pushing down a bit, but I’m not fully convinced we’re heading to the downside just yet. You have to keep in mind that 2.000 is a strong psychological key level that we have been floating around for some time. I believe that we will see a few more rejections off 2.000 before heading lower. I’m also not weighing out the possibility that we could start climbing back to the upside. Keeping a very close eye on this pair for the time being.
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GBPAUD potential bounce!
GBPAUD expected to reverse up to 1st support at 1.94968 where it could potentially react and bounce to its resistance at 1st resistance at 1.95581.
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GbpAud- confirmed 700 pips targetFrom the mid of December, GbpAud is trading in a rising wedge pattern.
Yesterday the pair has closed the session under the rising support line, confirming the change of medium-term trend and a potential 700 pips target.
First important support comes into place at 1.92 zone.