GBP/AUD 17.06.2016
H4 chart
Downward movement to 61,8 Fibonacci of the last upward movement.
Possible double bottom formation.
Higher top higher bottom.
Price above horizontal support.
Technical indicators:
Price above 5 EMA, 13 EMA and 25 EMA
13 EMA crosses 25 EMA from bottom - positive signal
RSI (14) above 50 - bullish signal
CCI(50) above 100 - bullish signal
Sentiment: Probability for Brexit sharply went on the side of Remain campaign which supports pound.
SL 1,9175
Alternative scenario: If price goes under 1,9031 this will negate the positive formation.
Jr. Trader Nikolay Georgiev
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