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FX.co ★ GBP/AUD Rebound- Bullish Outlook April 27, 2011 (Daily Strategy)

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Forex Analysis

2011-04-27T12:36:01
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GBP/AUD Rebound- Bullish Outlook April 27, 2011 (Daily Strategy)

GBP/AUD Rebound- Bullish Outlook April 27, 2011 (Daily Strategy)

GBP/AUD

The British pound - Australian Dollar pair in the journey today, the pair to retreat to their monthly support around 1.5160, on this level of support, we can maintain a bullish position, but if the price drops below its minimum last year, change everything our perspective.

we can see in the chart that the pair has formed a double bottom. Therefore, we recommend to buy at these levels with a long term objective around the resistance formed at 1.6160 level.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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