💱 GBPAUD - Attempting a trend change. Waiting for confirmation

7 בנוב׳ 2023

GBPAUD breaks the resistance of the downtrend, which increases the bullish interest. False breakdown is unlikely, correction before further growth is possible

Prerequisites for further growth:
1) GBP is fundamentally strengthening on the back of geopolitics
2) The price breaks the descending resistance and forms an impulse
3) Before reaching the local target the market turns around - a classic MM maneuver before further growth (market traps)
4) Price has left the oversold zone, volumes indicate the absence of sellers.

Key resistance: 1.9195
Key support: 1.9090