• Joseph Barreca

Can GBP/AUD push to 1.89450?

Looking the GBP/AUD pair this morning got me excited, I love the fact that we're in a clear uptrend and we've had a clean break of 1.88500 with a retest (red zone). I'm looking for further signs of bullish activity to take this higher back into 1.89450.

Take a look at a few factors here. Australia is continuing to go into harder and harder lockdowns as the weeks continue, jobs are lost and businesses are failing while on the flip side UK are opening, people are going back to work and businesses are flourishing.

Looking at the seasonal data we can see price is set to move higher. with the long-term prediction well above 100 currently sitting at 101.04 and the long-term prediction candlestick expects price to hit 1.92 in the coming weeks with a forecast of + 2.62 % price increasing over the next 25 days.

Take these simple few factors into consideration and it gives me confidence we'll se a swing back into 1.89450.

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