GBP/AUD presents a bullish structure on H4. After the increase in unemployment demand data for Great Britain, the market gained strength by breaking through a supply zone now turned reversal zone, where I now expect a retracement before continuing the uptrend with the target of the supply zone at the level of 1.9440. At that level, two scenarios can be evaluated: a bullish one with the breakout of the zone and the retest before continuing towards 1.96, and a second bearish scenario where a breakout of the bullish trendline is expected with a retest on the lower side of the reversal zone and a continuation short towards 1.92. Stay tuned for further updates, greetings, and happy trading to all.
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GBPAUD Target reached, now waiting the retracement
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Good reaction as I expected. Now I'm waiting for Bullock's speech tonight
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On GBPUSD will be interesting to see the UK data tomorrow morning. In my opinion GBP could go up again
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Waiting for a retracement at the 0.62% Fibonacci level before evaluating a short entry.