Fxwirepro: Gbp/aud Retreats After Making a High of 1.2513, Good to Buy at Dips

  • GBP/AUD has made a high of 2.15132 (Jul 30th high)yesterday  and declined till 2.1352. It has formed a temporary bottom around 2.130 and any further weakness can be seen only below that level.
  • Any break below 2.130 will drag the pair further down till 2.1230/2.120 in short term.
  • The pair’s minor supports are 2.1365/2.1330.
  • On the higher side major resistance is at 2.1440 and any indicative break above would target 2.1500/2.1550.

It is good to buy at dips around 2.1380 with SL around 2.1300 for the TP of 2.1500/2.1550.

The material has been provided by InstaForex Company – www.instaforex.com