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GBP/AUD to break out of bearish channel

Gbp/Aud is looking strong and ready for a next leg higher
This next leg will bring it above the upper border of a bearish channel
as we can see on the weekly chart:
Gbp/Aud weekly chart
The last weekly candle is a hammer - which is a bullish candle pattern,
the MACD signal is bullish, and the RSI is bullish, too
The 61.8% fibonacci expansion target of last weekly move lies above the upper border
of the weekly bearish channel that the pair is currently in
On the daily chart I have drawn out my pr…
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The pair is finally testing the upper border of the weekly bearish channel,
a breakout could trigger a stronger move up

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Weekly trendline support for AUD/NZD

Aud/Nzd still looks definetely bullish
MACD and RSI are both bullish on the weekly chart
and the price is now supported by a weekly bullish trendline
The 61.8% fibonacci expansion level of the last weekly move should be the next weekly target
and it lies above the previous highs at 1.1335
Aud/Nzd weekly chart
On the daily chart we find that the 61.8% fibonacci expansion level of the last daily move
coincides with the lower border of the weekly trendline
and this combination should strengthen sup…
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AdamFx42 19 Oct

Weekly trendline has indeed held the drop in price as I predicted
1.10 is now still support area  and the price should move up towards target here

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AdamFx42 30 Oct

Price moving as predicted now - up towards target area, and has already taken out previous highs

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Price has tested trendline and bounced back up - looks to retest it again now,
hopefully the move up will follow then

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