In my analysis of GBP/AUD, this currency pair is BULLISH on the 1 HOUR CHART. The chart is coming from a TEA CUP pattern just completing the handle and moving upward, making higher highs and higher lows. I forecast price will move to $1.88180. In this analysis I used Chart Patterns, Elliot Wave & Fibonnaci.
GBPAUD
GBPAUD
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Initially, looking at the chart from the TEACUP PATTERN, forecasting price would break the area of resistance. However, Price did not break the area of resistance and reversed moving bearishly.