GBPAUD WEEKLY RANGE OUTLOOK SIMPLIFIED
This pair has been range bound on both the monthly timeframe and the weekly timeframe since as far back as July 2020.
After rejecting the support area of the range, price looks as if now it is heading for the range high (resistance) level and i am anticipating it to get as high as 1.84 in the medium term.
As of now price has broken the counter trendline as well as putting in a series of higher highs and higher lows, most recently putting in a nice higher low which was also a bullish engulfing candle. My next target for this pair is the -27 ext being 1.81900 then soon after 1.84.
After rejecting the support area of the range, price looks as if now it is heading for the range high (resistance) level and i am anticipating it to get as high as 1.84 in the medium term.
As of now price has broken the counter trendline as well as putting in a series of higher highs and higher lows, most recently putting in a nice higher low which was also a bullish engulfing candle. My next target for this pair is the -27 ext being 1.81900 then soon after 1.84.