Currently, GBP/AUD is trading at 1.8263. The pair is trading in a side ways trend between resistance and support wedges . The price is about to touch the support level at 1.8157 and It may rebound back from there. The pair is in side ways trend from some time, so it is possible that it will continue its side ways trend in the resistance and support wedges . Until the price breaks the resistance or support level it is possible that it will continue its side ways trend in the channel.
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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.