FX.co ★ GBP/AUD is continuing its upward trend (Daily Signal), November 10, 2010

After the trend line was broken decisively, the Pound/Australian dollar pair is all the way back down, apparently in order to re-examine the same line that served as resistance before the break and is expected to now act as support.

The first objective for the exercise part of the long position is in relation to the first resistance level of 1.6230, while the second goal for the total year is in relation to the higher resistance level around 1.6530 Australian dollars per pound.