Hello and welcome to my Trade Idea of the currency pair GBP/AUD.
Lets start with the Top Down Analysis.
Monthly: The monthly timeframe is in very strong bullish trend with nice up and down waves.
Weekly: Weekly is very strong bullish too. Because of that strong trend a bearish engulfing occurs at the 16.12.2019 included a huge bearish candle.
Daily: The price breaks a bullish trendline and breaks a bearish trendline but the bearish trendline is closer to the current situation that's why it's more important.
H4: The price breaks out of the counter trendline and that's why my view is long for this currency pair. The bullish daily trendline is also still intact.
Have a nice day.
Lets start with the Top Down Analysis.
Monthly: The monthly timeframe is in very strong bullish trend with nice up and down waves.
Weekly: Weekly is very strong bullish too. Because of that strong trend a bearish engulfing occurs at the 16.12.2019 included a huge bearish candle.
Daily: The price breaks a bullish trendline and breaks a bearish trendline but the bearish trendline is closer to the current situation that's why it's more important.
H4: The price breaks out of the counter trendline and that's why my view is long for this currency pair. The bullish daily trendline is also still intact.
Have a nice day.