GBPAUD - Long the Support.
GBPAUD - Short term - We look to Buy
Broken out of the wedge formation to the upside.
A bullish reverse Head and Shoulders has formed.
200-hour EMA is at 1.8000.
The RSI is trending higher.
A move through 1.8150 will confirm the bullish momentum.
Dip buying offers good risk/reward.
We look for gains to be extended today.
Further upside is expected although we prefer to set longs at our bespoke support levels at 1.8000, resulting in improved risk/reward.
Our profit targets will be 1.8118 and 1.8169
Resistance: 1.8080 / 1.8100 / 1.812
Support: 1.8050 / 1.8037 / 1.8000
Signal Centre
Broken out of the wedge formation to the upside.
A bullish reverse Head and Shoulders has formed.
200-hour EMA is at 1.8000.
The RSI is trending higher.
A move through 1.8150 will confirm the bullish momentum.
Dip buying offers good risk/reward.
We look for gains to be extended today.
Further upside is expected although we prefer to set longs at our bespoke support levels at 1.8000, resulting in improved risk/reward.
Our profit targets will be 1.8118 and 1.8169
Resistance: 1.8080 / 1.8100 / 1.812
Support: 1.8050 / 1.8037 / 1.8000
Signal Centre
Trade closed: target reached:
Take profit has been reached!
