GBPAUD Watch For A Breakout Before Going Long

Long

British Pound / Australian Dollar (FX:GBPAUD)

FX:GBPAUD British Pound / Australian Dollar

Wedge breakout wavepatterns chatpatterns

wedgepattern breakout wavepatterns chatpatterns

After breaking a long term downtrend and having retraced to that broken level, price is about to break above a wedge pattern. When the breakout happens we should watch for a buy setup before going long with this pair. A MACD bullish divergence shows that this down move is about to end.

Daily Downtrend:

snapshot

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