- GBP/AUD has retreated after making a high of 2.2370. Intraday trend is bearish as long as resistance 2.200 holds.
- Any break above 2.200 will extend gains till 2.2370/2.2740 in short term.
- The pair’s minor support is around 2.1400 (trend line joining 2.0870 and 2.110) and break below targets 2.100/2.0850.
- Overall bearish invalidation only above 2.2380 level.
It is good to sell on rallies around 2.165-170 with SL around 2.2300 for the TP of 2.100/2.0870
The material has been provided by InstaForex Company – www.instaforex.com