GBPAUD → Price continues to strengthen. I expect a breakthrough

23 Jun 2023

GBPAUD is showing a chic dynamic based on the reversal pattern. At the moment the price is in a range and most likely the market will have to form a consolidation before breaking through the flat resistance.

Earlier the price acquires strong support from the 200-hour moving average. A strong consolidation forms a bullish position, after which we saw a rally to 1.90000
At the moment, I expect a retest of 1.90353 and the formation of a pullback to support in the near future. In the medium term from the trend support or from the level 1.89200 I would expect an active strengthening of the currency pair.

Support levels: trend bottom line, level 1.89200, sma200
Resistance levels: 1.90353, 1.91835
The pound continues to get stronger and the resistance of the range will not stop the price. I expect pre-breakout consolidation with a further breakthrough to 1.91835.

Regards R.Linda!