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FxWirePro: GBP/AUD faces strong support at 2, good to buy at dips

  • Harmonic pattern Formed - Bullish Gartley Pattern
     
  • Potential Reversal Zone (PRZ) - 2.
     
  • The pair is trading in narrow range around 2.032-2.045 for the past two trading session.
     
  • GBP/AUD is facing minor resistance around 2.050 (20 day 4 HMA) and break above will take the pair to next level 2.066 (200 day 4 HMA)/2.09700.
     
  • Overall trend reversal only above 2.100.
     
  • On the lower side major support is around 2.017 and break below targets 2/1.9800 level.

It is good to buy at dips around 2.025-2.030 with SL around 2 for the TP of 2.0950

 

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