GBPAUD The key is the 1D MA50

The GBPAUD pair is consolidating around the 1D MA200 (orange trend-line) after almost a 1 month non-stop fall (since December 21). The next Support level is at 1.73500 and if broken we will extend selling towards the 0.786 Fibonacci level at 1.6878. Then reverse to long-term buying targeting 1.8600 (below the -0.236 Fib and the Higher Highs trend-line).

If however the price breaks above the 1D MA50 (blue trend-line) first, we will abandon selling and take the buy break-out instead, having the same 1.8600 target.


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