Potential Break down 0.92370 area. A strong historical SR at 0.93637 is about get broken. once its broken, it might even trigger a run to 0.88918 on a longer term. However, the weekly showing a overbought from last week.
The weekly GBPUSD provides an insight on the completion of a pullback. The levels of 1.32000 is a critical trigger, which has been strong support/ resistance historically. The price point is also a round number which adds more confluence to the setup. The price is also rejecting the S1 pivot and once it breaches above 1.32, it could be the beginning of another bullish run.
EURAUD has broken above the key 1.6 even after a super high test candle.
For me it looks like a profit taking week, followed by the continuation of the bull trend. Considering that AUD is weak against all other pairs, this pair seems to be back on track for the long.
Expected 1.62039 profit target , with a stop loss of 1.59319
