Trading signals for #GBPAUD →Technical pullback, after which the growth will continue

2023-06-21 08:35 FOREX forecast

GBPAUD forms a reversal pattern at the base and support of the lateral range of 1.86094. The implementation phase of the set-up leads to the strengthening of the currency pair to 1.88950. The technical pullback begins, which may reach the retest of SMA-200

The price is inside the range. From the support we see active price strengthening towards resistance. The strategy of trading inside the range is simple - it is worth to focus on the resistance and support of the flat.

At the moment correction is forming, which may be directed towards 0.382 Fibo or to SMA-200, as we have an uptrend, these levels are the key for possible entry point.

Support levels: 1.87738, SMA-200, 0.382 fibo

Resistance levels: 1.88200, 1.89214

I expect the end of the technical pullback in the area of 1.87738-1.87450 with further strengthening of the currency pair to 1.89214 or to 1.90350

R. Linda

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