Currently, GBP/AUD is trading at 1.8184. The pair is consolidating after rebounding from its resistance level . The pair may start a new down trend if it breaks the support level and neck line at 1.8174, It is possible that the pair may consolidate further for some time. If the pair starts a new down trend after breaking the support level and neck line , then its first target price will be at 1.7934 and second target price will be at 1.7785.
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Rishikesh Lilawat
Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.
