GBP/AUD Poised To Continue Upward Movement
- GBP/AUD has been on an uptrend ever since the downtrend from the high in Apr 2020 was broken during Feb earlier this year as indicated by the blue line
- We see GBP/AUD trading in an upward channel over the course of the next few weeks, with the bottom of the channel providing support currently at 1.7905
- Key Fibonacci levels at 38.2% and 23.6% provide areas of potential resistance to take profit at. Conversely, stop losses can be set slightly below the 61.8% level at around 1.7800
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