GBP/AUD – Awaiting Bullish Reaction from Key Support Zone
GBP/AUD has shown significant volatility lately especially after the breakout above key resistance in early April followed by a sharp retracement Now the pair is approaching a critical support zone that could provide the next opportunity for bulls.
Here’s the breakdown
Breakout Zone Retest After a clean breakout through previous resistance price surged to fresh highs and is now retracing This looks like a classic break-and-retest setup
Support Area The price is approaching the 2.06300 – 2.07300 region which aligns with past demand and structure This zone could act as a springboard for the next bullish wave
Potential Rebound Path If the price holds this support zone we could see a push back toward 2.09200 and potentially 2.10254 where minor resistance lies
Bearish Invalidations: A clean break below 2.06300 could open the door for further downside toward deeper supports...
Key Levels:
Support: 2.07373, 2.06318, 2.04824
Resistance: 2.09200, 2.10254, 2.13513
Final Thoughts:
The setup looks promising for buyers if the support zone holds Keep an eye on how price reacts in this area before committing Patience and confirmation are key...
Here’s the breakdown
Breakout Zone Retest After a clean breakout through previous resistance price surged to fresh highs and is now retracing This looks like a classic break-and-retest setup
Support Area The price is approaching the 2.06300 – 2.07300 region which aligns with past demand and structure This zone could act as a springboard for the next bullish wave
Potential Rebound Path If the price holds this support zone we could see a push back toward 2.09200 and potentially 2.10254 where minor resistance lies
Bearish Invalidations: A clean break below 2.06300 could open the door for further downside toward deeper supports...
Key Levels:
Support: 2.07373, 2.06318, 2.04824
Resistance: 2.09200, 2.10254, 2.13513
Final Thoughts:
The setup looks promising for buyers if the support zone holds Keep an eye on how price reacts in this area before committing Patience and confirmation are key...
Trade active
Trade closed: target reached
Trade close Reached Half target!!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.