InvestMate|GBP/AUD Play for trend continuation💷

28 בנוב׳ 2022

💷GBP/AUD Play for trend continuation.

💷This time it's time for GBP/AUD.

💷 Looking at the behaviour of the price movement and the continuation of the strong uptrend since the end of September, I am inclined to continue the upward movement.

💷As you can see, there is a strong line of resistance ahead, determined by a cluster of three fibo levels. The first is the 0.5 level of the entire upward wave from the 2013 bottom to the 2015 peak. The second is the 0.382 level from the 2015 peak to the 2016 bottom and the final 3rd level is the 0.5 level of the entire upward wave from the 2016 bottom to the 2020 peak.

💷 I determined the support zone based on the fibo level of 0.618 of the entire upward wave from the 2016 bottom to the 2020 peak.

💷The scenario I am playing out is a continuation of the upside towards the resistance zone. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

💷 *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.

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