GBP / AUD
After the trend line was broken, the GBP/AUD pair moved downside apparently in order to re-test the same line that served as the resistance before the breakout and now is expected to be the support level. A new low of 100 points placed just above the trend line now acts as a trigger for purchase at 1.5900.
The possibility that the pair will move downside by another 150 to strong support level of 1.5750 before it renews the upward movement should be taken into account. In this case, this level will work as the trigger to strengthen long positions. The first target for the exercise part of long positions is in relation to the first resistance level of 1.6240, while the second target for the total year is in relation to the highest resistance level around 1.6530 Australian dollars per pound.