GBP/AUD

January 23, 2019

GBP/AUD was trading in a narrow range, at 1.818 and during later EU trading pair jumped to 1,83 area.
Price action is on verge of breakout of ‘Symmetric Triangle’ pattern.
Technical studies also support upside. Volatility is also rising.
Break above Triangle top at 1.8185 will see gains till 78.6% Fib at 1.84.
Immediate support is seen at 5-DMA at 1.8082. Break below 200-DMA negates bullish bias.
Support levels – 1.8147 (61.8% Fib), 1.8084 (5-DMA)
Resistance levels – 1.8284 (Jan 3rd high), 1.84 (78.6% Fib)

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