An interesting situation on GBPAUD. Since more than a week the price has moved in upward channel. Today, first there was broke below the minimum of the channel and second return to inside the channel. However bulls didn’t have enough strength to keep the price and breakout has become a reality.
[pullquote]Try FX GROW. ECN & STP
execution, full transparency.[/pullquote]Descent at the moment was stopped on the first support at 2.1600. Break below this level will take price first to the resistance level at 2.1500. And then to 2.1400. Alternatively, if bears will take control the closest resistance levels are located at 2.1870, 2.2000, 2.2100.
Wider view, interval D1 The uptrend line is not threatened and possible correction can bring the price to the level of 2.0150. However it must break support at 2.1430, 2.0880, 2.0520.
