GBPAUD → The start of correction within the up-trend is possible

14 Ağu 2023

GBPAUD continues to strengthen within the framework of the uptrend. The price updates the local maximum and continues to seek trend resistance



The currency pair may make a correction against the resistance of the ascending channel. The price may reach the upper boundary of the ascending range and form a false breakout or other traps for players.
Price consolidation or a reversal setup below the ascending line can be a signal to start a correction. If a correction is formed, the market will have the potential to decline to 1.95613 and even to 1.93924
Moving averages indicate a strong bullish trend.

Support levels: 1.95613, 1.93924
Resistance levels: 1.96200, trend resistance
I expect growth up to the upper boundary of the trend with the subsequent rebound and formation of correction to the support

Regards R. Linda!