FX.co ★ Daily Video Analysis: GBPAUD facing bullish pressure, potential for further rise!

Today we take a look at GBPAUD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. GBPAUD is facing bullish pressure and could potentially rise to our first take profit level at 1.80420, in line with our 50% Fibonacci retracement level and horizontal swing high resistance, and possibly rise even further to the second take profit level at 1.80850, which is in line with our 61.8% Fibonacci retracement level. It is worth noting that price has just crossed above the EMA (21), which shows bullish pressure in line with our analysis.