GBP/AUD

GBP/AUD is Still Bullish But it Needs to Break an Important Resistance

Dear Traders,

The GBP/AUD has formed 2 POC zones. At this point we see a continuation to the upside from the POC zone 1.8065-90.

A drop below the POC zone should target the POC2 zone 1.7950-80. If the price bounces from any of the zones, the target should be 1.8204. This is a very important resistance as it effectively is a bullish order block. Close above 1.8205 is needed for a continuation towards 1.8245 and 1.8311. Only a drop below 1.7868 will make the pair bearish.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.