GBP/AUD probable price increase

30.04.2018 / 02:01

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FX forecast/ GBP/AUD / Our expectations

The price is moving is long-term upward trend and is making higher tops and higher bottoms. Middle-term consolidation. The price is at the bottom part of the coppy market, near the main diagonal support that is forming the consolidation. Downward gap when the market opens, but shortly afterwards the gap is filled, which indicates that the bears do not have power to continue with the movement. The price remains above SMA 200/50 - positive signal. The price remains above Ichimoku Cloud - positive signal. technical indicator: CCI(50) - still above base level 0 - positive signal.

SL: 1.8100

Alternative scenario: If the price breaks below the current zone of support, the middle-term movement will be transformed into descending one and we can see test of the next strong support at FiBo 23.6

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GBP/AUD probable price increase

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