GBPAUD Analysis & Trading Plan - 27 August 2024 #trading #forex #forexsignals #fyp #shorts

Here is why I believe pound Aussie is a buy on the short term. On daily chart, we can see the price respected a very strong supportive area, previously proven resistance that was broken upside. Now we have a support. As the daily bounces upside from the support area, the four-hour chart breaks above the falling resistance line. All that happens to be. After the price and the indicator completed a bullish divergence— lower lows on the chart, higher lows on the MACD moving average. 1-hour chart completed bullish price action— 3 higher highs, higher lows— after the break above the 4-hour chart trendline. As long as these 2 key Fibonacci levels hold, as you can see on the chart, I expect the price to push higher from here on a short term.