Long Term Bullish View on GBP/AUD
Good morning traders! Today we bring you a long-term analysis of the GBP/AUD pair, along with a short-term vision to show you where we recommend taking a bullish position in case you are looking for a trade in that direction.
🔸The price has been in a bullish channel for four years, and a few weeks ago we saw a retest of it.
🔸From there, the price generated a slight rebound, but we consider that it has the potential to initiate a strong movement in the upward direction.
🔸The long-term target is the Resistance zone at 2.0500, but in any case we leave the short-term vision.
🔸In the 4H chart we see that the price broke the Descending Trendline, and is forming a corrective structure. In the event of a breakout to the upside, we may witness a move towards the Resistance zone.
🔸The price has been in a bullish channel for four years, and a few weeks ago we saw a retest of it.
🔸From there, the price generated a slight rebound, but we consider that it has the potential to initiate a strong movement in the upward direction.
🔸The long-term target is the Resistance zone at 2.0500, but in any case we leave the short-term vision.
🔸In the 4H chart we see that the price broke the Descending Trendline, and is forming a corrective structure. In the event of a breakout to the upside, we may witness a move towards the Resistance zone.
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