GBP/AUD - within up channel & near strong resistance
Market broke out above trend channel but doesn't looks like it can continue the small rally. RSI and MACD indicating a soon correction, I expect a correction like this one from April 24 to 29. 50 day moving average crossed 100 day moving average which is bullish indicator but now the 50 day MA is near 200 day MA and have to cross it, otherwise this would be an bearish indicator.
Wait for trend confirmation before entering this trade. Confirmation is drawn in the chart.
Wait for trend confirmation before entering this trade. Confirmation is drawn in the chart.
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The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
