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24.03.202112:23 Forex Analysis & Reviews: Daily Video Analysis: GBPAUD facing bullish pressure, potential for further rise!

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Today we take a look at GBPAUD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bullish pressure as it holds above the ascending trendline and moving average support, and MACD is holding above the 0 line. We could potentially see a bounce at our buy entry level, in line with our 50% Fibonacci retracement, and further upside towards our take profit levels, in line with our -27.2% and -61.8% Fibonacci retracement levels.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
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