FibsNProfits

GBPAUD Accumulation & Re-Accumulation

Long
FX:GBPAUD   British Pound / Australian Dollar
GBPAUD has shown a clear accumulation schematic creating a nice bullish push and re-testing a supply zone, where it re-accumulated. First targets for GBPAUD will be into the Gap created from market close to market open on May 17,2020. This will correlate with Dollar Index showing signs of Higher Time Frame Accumulation. The strengthening Dollar would weaken the anti-perdiems (AUD), allowing the Pound to strengthen in this case. The move from current price to close the gap is approximately 670 pips.

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