FX.co ★ GBP/AUD

Testing the bulls at the level of 2.0996 (Murrey 4/8) has once again proven unsuccessful. This defining resistance still prevents the GBP/AUD pair from continuing the development of the uptrend. By returning the price to the level of 2.0874 (Murrey 3/8), located in the H4 cloud, the bears are not yet ready to overcome this support. If it is eventually breached, the target could be set at the level of 2.0752 (Murrey 2/8), but until then, I would prefer to maintain a wait-and-see position.