GBPAUD 17 03 2021
In December last year, the price collapsed greatly and during the collapse was able to break through the small support line 1.765. However, immediately after the breakout, it returned to growth, and as a result, this line became the lower border of the growing channel, which has existed since December. The upper border of the channel is the resistance line formed at the same time. During the growth in the channel, the price had breakdowns of the support line, but at the beginning of March it rose to resistance 1.809, after which it fell again to support 1.787. Now we see how the price bounced off the line and started to rise. I expect the price to rise to the resistance zone at 1.813. This will be our goal.
In December last year, the price collapsed greatly and during the collapse was able to break through the small support line 1.765. However, immediately after the breakout, it returned to growth, and as a result, this line became the lower border of the growing channel, which has existed since December. The upper border of the channel is the resistance line formed at the same time. During the growth in the channel, the price had breakdowns of the support line, but at the beginning of March it rose to resistance 1.809, after which it fell again to support 1.787. Now we see how the price bounced off the line and started to rise. I expect the price to rise to the resistance zone at 1.813. This will be our goal.
