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GBP/AUD is Still Bullish But it Needs to Break an Important Resistance

By:
Nenad Kerkez
Published: Aug 29, 2019, 08:00 GMT+00:00

Dear Traders, The GBP/AUD has formed 2 POC zones. At this point we see a continuation to the upside from the POC zone 1.8065-90. A drop below the POC zone

GBP/AUD

Dear Traders,

The GBP/AUD has formed 2 POC zones. At this point we see a continuation to the upside from the POC zone 1.8065-90.

A drop below the POC zone should target the POC2 zone 1.7950-80. If the price bounces from any of the zones, the target should be 1.8204. This is a very important resistance as it effectively is a bullish order block. Close above 1.8205 is needed for a continuation towards 1.8245 and 1.8311. Only a drop below 1.7868 will make the pair bearish.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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