My analysis for this week with GBPAUD is that it will go up potentially to 1.8000.
After reaching 1.8000, 2 things might happen:
- Break to reach 1.81500 weekly support to retest it in the weekly timeframe.
- or reject then try to break weekly trendline.
Broke weekly support on weekly and retested weekly support on daily.
Broke uptrend structure at H4 which means that the market is going down.
I'm personally looking for a retest of the blue area then sell to 133.300
Tried to break the weekly support of 1.60500 in weekly, but it got back up showing that the resistance is still not broken.
Weekly is still uptrend
Wait for retest of the Support level of 1.60500 up to 1.60300 then buy
Price is at Weekly Resistance. We can see big wicks have formed showing clear rejections of 1432.282.
In Daily, we can see that price rejected 1427 area a lot of times which then clearly broke the uptrend.