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If we look at the 4-hour chart of the GBP/AUD cross currency pair, a Bullish 123 pattern appears to have formed and the Stochastic Oscillator indicator (5,3,3) has successfully risen above the Oversold level (20) so that based on these facts, in the near future GBP/AUD has the potential to appreciate and strengthen to the level of 1.9421 and if this level is successfully broken upwards as long as there is no significant weakening, especially if it breaks below the level of 1.9292, then GBP/AUD has the potential to strengthen to the level of 1.9531 as its main target and if the momentum and volatility support it, it is not impossible that the level of 1.9589 will be the next target to be aimed for.
(Disclaimer)
The material has been provided by InstaForex Company - www.instaforex.com #
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