Dmitriy Chernovolov, Technical Analyst who has been actively following the FX markets for the last 11 years. He uses a systematic trend following approach combined with a proven money management system. Dima prefers to combine multiple technical analysis tools (e.g. Fibonacci retracements, trendlines, indicator divergences, Japanese candlesticks, Elliott Waves as well as horizontal support and resistance levels on different time-frame charts) to identify high probability synergetic trade setups with a high reward/risk ratio.

GBP/AUD broke pivotal support level 1.8280

  • GBP/AUD broke pivotal support level 1.8280
  • Next sell target - 1.7600

GBP/AUD continues to fall sharply – following the earlier breakout of the pivotal support level 1.8280, which stopped the previous sharp primary impulse wave ① and which was set as the sell target in our previous forecast for this currency pair. The breakout of the support level 1.8280 greatly accelerated the active intermediate impulse wave (3) – leading to the subsequent breakout of the support trendline of the wide daily down channel from last August.

GBP/AUD is expected to fall further inside the active intermediate impulse wave (3) toward the next sell target at the support level 1.7600.


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