GBP/AUD falls since 5 weeks. Correction has to occur in all trends even in one as strong as this. Current level gives a chance that a rebound may occur at the moment. Price reached support in 1.8970 - 1.8820 area. Of course you can't count on trend reversal, but some correction in such oversell price should occur. If price rebounds nearest target for falls will be at 1.9280. After break above indicated level next target is located at 1.9590. During tomorrow's ECB meeting we have to be prepared for high volatility on the main currency pairs, which should cause higher volatility also in GBP/AUD.
Time-frame H4
Time-frame W1
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.