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Gbp/Aud is back on its way up after a deep retracement, and upward momentum is strong
The daily target points to a level around 188
But first a look at the first weekly chart that shows us the channel the pair is moving in currently:
On the second weekly chart I have put the Fibonacci expansion of latest move up
and it points to an area of 197 - which is 61.8% expansion area
If we now move to the daily chart we can find that the weekly trendline can act as a support area
for the move up, and wit…
The daily target points to a level around 188
But first a look at the first weekly chart that shows us the channel the pair is moving in currently:
On the second weekly chart I have put the Fibonacci expansion of latest move up
and it points to an area of 197 - which is 61.8% expansion area
If we now move to the daily chart we can find that the weekly trendline can act as a support area
for the move up, and wit…