In the Daily or weekly time frame, price has reached at a major support thats been in existence for as far as 2018. Also looking at the RSI, GBPAUD looks sold out as it has touched 20%. Its upon this basis that i believe that price is going to bounce off the major support.
its also important to note that due to geopolitics the GBP has been weaker in comparison to the AUD. so there is also a likely hood of the GBPAUD cracking through the major support and failing to respect the analysis above. Am also seeing a double top being formed that can only be effective if the major support cracks.
we await to see what happens in the coming days
its also important to note that due to geopolitics the GBP has been weaker in comparison to the AUD. so there is also a likely hood of the GBPAUD cracking through the major support and failing to respect the analysis above. Am also seeing a double top being formed that can only be effective if the major support cracks.
we await to see what happens in the coming days