GBP/AUD has been moving within a weekly ascending trend channel since early 2017, apart from a few dramatic exits during the Yen crash in early 2019 and the intial Covid-19 spike, but even after these instances price returned inside the channel.
We can now see a clear break of the trend channel to the downside and also a possible completed retest of the lower...
GA has an ascending support trendline coming in for a retest with a big bullish hidden divergence backing it up. Looking for strength via your preferred methods before attempting any long positions is recommended and paramount to risk management. don't try catch a falling knife etc.
Highly recommend all risk be cut in 50% due to global factors which simply cannot...
This is overall overview of this pair.
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Price action has completed a Gartley pattern at a major daily resistance zone for this pair. The completion of this pattern is in line with our long strategy therefore we have set our take profits on the green zones. OANDA:GBPAUD