- GBP/AUD has broken short term trend line support 1.94760 (trend line joining 1.8980 and 1.92914) and this confirms that it has formed temporary top around 1.9665 , a decline till 1.9290 cannot be ruled out.
- On the upside minor resistance is around 1.9520 and any break above would extend gains till 1.9580-19600. Overall trend reversal only above 1.9600.
- The pair’s minor support is around 1.9450 and any break below will drag the pair further down till 1.9400/1.9290.
It is good to sell on rallies around 1.9530 with stop around 1.9600 for the target of 1.9400/1.9305
The material has been provided by InstaForex Company – www.instaforex.com