GBPAUD →Technical pullback, after which the growth will continue

21 de jun. de 2023

GBPAUD forms a reversal pattern at the base and support of the lateral range of 1.86094. The implementation phase of the set-up leads to the strengthening of the currency pair to 1.88950. The technical pullback begins, which may reach the retest of SMA-200.

The price is inside the range. From the support we see active price strengthening towards resistance. The strategy of trading inside the range is simple - it is worth to focus on the resistance and support of the flat.
At the moment correction is forming, which may be directed towards 0.382 Fibo or to SMA-200, as we have an uptrend, these levels are the key for possible entry point.



Support levels: 1.87738, SMA-200, 0.382 fibo
Resistance levels: 1.88200, 1.89214
I expect the end of the technical pullback in the area of 1.87738-1.87450 with further strengthening of the currency pair to 1.89214 or to 1.90350.

Sincerely R. Linda!

21 de jun. de 2023

Nota

The price is testing the mentioned Fibo level and makes a false-break of the support 1.87738

We get a predictable reaction. A bullish rebound and after the price fixes above the support, the currency pair may strengthen