GBPAUD long view

Looking at the graph on the four-hour time frame, we see movement in one ascending channel. We can use Fibonacci retracement levels as an additional tool to help determine the trend. If we look again at the chart, we see that the pullback in this channel is declining at certain Fibonacci levels in zone 61.8-78.6%, following the bottom line of the trend as support. We see that MA200 and EMA200 are very important from moving averages and provide good support to this bullish trend. For the bearish option, we need a break below the MA200 and EMA200, as well as a drop below the bottom support line.