Quick update
Weekly timeframe
so when you look gbp/aud from at top down perspective ,you see it was in an upward trend, forming high highs and higher lows.we see price breaking structure in the weekly and and we see a potential pull back at a key support level around 1.89000. at which the price is currently trading.
Daily timeframe
price has retraced about 61.8% of its previous high and also confirms with a weekly support for a potential upside move. we could see price go down to about 1.85500 which is a weekly fib level.
H4 and H1 timeframe
its a complete retest of the higher low of the daily and we shall see a potential move to around 1.90500 about 100 pip to the upside
confluence
1. weekly support
2.fib level 61.8% daily
GBP/AUD
Target 1=1.90500
Weekly timeframe
so when you look gbp/aud from at top down perspective ,you see it was in an upward trend, forming high highs and higher lows.we see price breaking structure in the weekly and and we see a potential pull back at a key support level around 1.89000. at which the price is currently trading.
Daily timeframe
price has retraced about 61.8% of its previous high and also confirms with a weekly support for a potential upside move. we could see price go down to about 1.85500 which is a weekly fib level.
H4 and H1 timeframe
its a complete retest of the higher low of the daily and we shall see a potential move to around 1.90500 about 100 pip to the upside
confluence
1. weekly support
2.fib level 61.8% daily
GBP/AUD
Target 1=1.90500