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


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
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Show more
Can't speak right now?
Ask your question in the chat.