FX:GBPAUD   British Pound / Australian Dollar

All eyes on new prime minister Election in the United Kingdom. Boris Johnson is the most likely candidate to succeed Theresa May. NO-deal Brexit will place the British pound under pressure and cause uncertainty.

Technical Analysis:

Weekly TF - shows us the price is testing local support trend line (Dec. 2018 – Jun. 2019) with a strong bullish engulfing candle.
Daily TF – Local bearish trend from May 6th till June 4th has concluded. Price broke the 9-EMA up, Parabolic SAR reversed (June 7th) and moving up with the price. MACD lines have intersected.

Price targets: 38.2% Fibo 1.84 area followed by 50% Fibo 1.85 area
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interesting setup
OlympTrade_Analytics DACapitalTrading
@DACapitalTrading, thanks! Looking promising!
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