GBP/AUD

GBP/AUD Retracement is Coming

The GBP/AUD has formed a retracement pattern and if the bullish momentum persists we should see higher levels hit.

The pair has been supported above 1.8225 zone. However, we couldn’t see a clear bullish momentum above W L3 level. In that case a new bullish momentum might spark further upside above 1.8320. If 1.8220 zone fails, the pair might drop to 1.8165 and that will end the retracement higher and might put the pair in another downside extensional move.

.

The Analysis has been done with the CAMMACD.Core and Sit Systems

For a look at all of today’s economic events, check out our economic calendar.

 

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.