The GBPAUD is moving in an extanded flat correction, but the trendis still down. We've just had a double top pattern, which usually marks the end of the rally. However, if it is broken, there's another set of resistance areas awaiting the price:
- the downsloping Median Line (ML),
- the prior lows at 1.777,
- the range between 1.80 and 1,82.
The sterling has been the weakest currency, while the aussie, next to kiwi and greenback, has been one of the strongest. So I expect more action to the downside, rather than upside.
- the downsloping Median Line (ML),
- the prior lows at 1.777,
- the range between 1.80 and 1,82.
The sterling has been the weakest currency, while the aussie, next to kiwi and greenback, has been one of the strongest. So I expect more action to the downside, rather than upside.
