Situation on the daily chart of the GBP/AUD looks interesting. Local support was broken on October 19th, when it seemed that the pair would return to the trend line but the next day the demand reversed the situation. At that time, the bullish engulfing formation initiated a continuing growth. A strong upward momentum broke the level of highs of the bullish movement.
Two bearish candles from the end of the week were probably only a correction. Yesterday demand was reactivated in vicinity of local support, and today gains are continued. It seems that the goal is to break recent maximums and surge to new heights. If this happens, the next target should be the high of 1 st of June.
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