GBPAUD Is Bullish! Buy!

Take a look at our analysis for GBPAUD.

Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is approaching a significant support area 1.931.

The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.937 level.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

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Trade closed: target reached:

That was an excellent trade and the target was reached too!