GBP/AUD breaks trend line support, targets 2.0880
Intraday trend- Bearish
Short term trend- Bearish
GBP/AUD has broken trend line support 2.112 (trend line joining 1.9161 and 2.0301) and break below confirms short term weakness, a decline till 2.100/2.088/2.050 is possible.
It has recovered from the low of 2.1007 till 2.1340 yesterday. But not able hold at higher levels and has declined from that level.
On the higher side minor resistance is around 2.115 and any break will take the pair to next target to 2.123/2.130.
Overall bearish invalidation only above 2.1350.
It is good to sell on rallies around 2.1075-80 with SL around 2.115 for the TP of 2.100/2.0880.
Short term trend- Bearish
GBP/AUD has broken trend line support 2.112 (trend line joining 1.9161 and 2.0301) and break below confirms short term weakness, a decline till 2.100/2.088/2.050 is possible.
It has recovered from the low of 2.1007 till 2.1340 yesterday. But not able hold at higher levels and has declined from that level.
On the higher side minor resistance is around 2.115 and any break will take the pair to next target to 2.123/2.130.
Overall bearish invalidation only above 2.1350.
It is good to sell on rallies around 2.1075-80 with SL around 2.115 for the TP of 2.100/2.0880.