GBP/AUD Long

As my previous analysis on GBP/AUD showed, price has finally reached our first target (1.76150). I also said that I would make an update to this pair once we hit this area so here it is. This might be another chance to go long again due to the strong bullish momentum that has been created from the first move. We need to consider the fact that the 1.76150 area was a support in the past (which is now serving as a resistance) and price might have a hard time breaking it or it will even reject it and reverse back for a move to the downside. The best option here is to wait for a consolidation in this key area and if this never happens we just take a long with our next target being 1.77925.

This was my update on GBP/AUD and I hope you like it, see you on the next one!