Long-Term Bullish Path on GBP/AUD Long
British Pound/Australian DollarFXCM
Description
⋅ Good morning, traders! Today we will analyze GBP/AUD (multi-timeframe) to explain our bullish view in depth.
First, we would like to start with the graph with the longest temporality (Weekly) to explain the context and where this direction comes from.
🔸Here, we see that the price rebounded on the Weekly Ascending Trendline, and since then, the upward movement has not stopped.
🔸Recently, we saw a break in a supply zone on the daily chart.
🔸As we know, the broken resistance zones later become support zones, which happened in this case.
🔸Now the price is moving upward, and we believe that in the long term, there is the potential to reach the previous high.