GBP/AUD Resuming the Move Up as Long as POC Zone Holds

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The GBP/AUD has completed the retracement and the price is currently holding above the D L3 level.

A rejection of the 88.6 and the POC zone could make the price continue going further up. As long as the price is holding above 1.7815-40 it will be a bounce off the POC zone. Targets are 1.7850 followed by 1.7886 and 1.7950. However if we see a drop below 1.7790 then the price is going to become bearish and targets are 1.7761 and 1.7740.which adds up to long confirmation. Targets are 1.2780 and 1.2802 with 1.2836 as the final target. If the price breaks 1.2680 to the downside the setup will be invalidated.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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