FX.co - GBP/AUD analyssi for October 31, 2022 - Key support zone on the test

31 October 2022 at 11:41AM (UTC+0)

Relevance until1 November 2022 at 11:41AM (UTC+0)

Technical analysis:

GBP/AUD analyssi for October 31, 2022 - Key support zone on the test

GBP/AUD is test the important pivot level at 1.8020-1.8000 and there is potential for the upside continuation.

Trading recommendation:

Due to the strong bullish momentum in the background, I see potential for further upside continuation towards upside references.

Watch for the potential buying opportunities on the intraday dips with the upside objective at 1.8125

Stochastic oscillator is showing oversold condition, which is sign that there is potential for upside rotation.

Key support is set at the price of 1.8000

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ GBP/AUD analyssi for October 31, 2022 - Key support zone on the test