💱 GBPAUD - Consolidation after breaking trend resistance

27 Kas 2023

GBPAUD breaks the resistance of the descending channel and forms consolidation. The market is forming a support retest before the upward jerk. Most likely, there is still not enough liquidity for growth, although the pound sterling has been showing bullish dynamics lately.

Prerequisites for further growth:
1) Bearish channel resistance breakdown
2) A symmetrical triangle is being formed
3) Break of the triangle resistance will give a signal, the impulse will start.
4) Pound sterling is fundamentally stronger than the Aussie.

Key resistance: 1.9338
Key support: 1.8971