GBP/AUD Technical Analysis.
Currently, GBP/AUD is trading at 1.8184. The pair is consolidating after rebounding from its resistance level. The pair may start a new down trend if it breaks the support level and neck line at 1.8174, It is possible that the pair may consolidate further for some time. If the pair starts a new down trend after breaking the support level and neck line , then its first target price will be at 1.7934 and second target price will be at 1.7785.
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Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and Ideas.
Thank you,
Rishikesh Lilawat
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