Since the beginning of this year, the currency pair of the British pound with the Australian dollar has been moving in an upward trend.
- GBPAUD sets the maximum 2021
- Outside bar on the daily chart
Yesterday the pair established the maximum of this year at the level of 1.8695. Yesterday’s daily candle included in its range the preceding candle. An outside bar formation appeared.
On the H4 chart also on Friday the outside bar formed, from which the price is trying to break out to the downside. The probability of a breakout to the south is increased by the already formed on Friday downward divergence on the MACD.
The GBPAUD pair is quite volatile, with daily ranges of 150 and more not uncommon, so when opening an order it is important to reduce volume to avoid over-leveraging.
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