The GBP/AUD pair is in a strong uptrend after a previous decline, and the price is now forming a symmetrical triangle, which is a continuation pattern. If a breakout occurs to the upside, further growth is expected.
Technical Analysis:
• Triangle Pattern: The price is consolidating within a tightening range of support and resistance.
• Key Level: 2.01100– a critical breakout zone.
• Expected Scenario: If the price holds above 2.01083, a move toward 2.02500+ is likely.
• Confirmation: A strong breakout with volume and a candle closing above the triangle would provide a solid confirmation.
Trade Plan:
• Entry: After a confirmed breakout above 2.01083.
• Target: 2.02500+
• Stop-loss: Below the triangle structure (around 2.00000).
If the breakout happens to the downside, the market structure may shift, and a different scenario could play out.
Technical Analysis:
• Triangle Pattern: The price is consolidating within a tightening range of support and resistance.
• Key Level: 2.01100– a critical breakout zone.
• Expected Scenario: If the price holds above 2.01083, a move toward 2.02500+ is likely.
• Confirmation: A strong breakout with volume and a candle closing above the triangle would provide a solid confirmation.
Trade Plan:
• Entry: After a confirmed breakout above 2.01083.
• Target: 2.02500+
• Stop-loss: Below the triangle structure (around 2.00000).
If the breakout happens to the downside, the market structure may shift, and a different scenario could play out.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.