GBPAUD Breaks Above 1.7500
Wed 22nd February 2023 : Daily Currency Strength Analysis
In Today’s Video we’re looking at Trading Setups in:
- GBPAUD
- AUDUSD (Covered in Video)
GBPAUD Breaks Above 1.7500
In today’s forex strength video we identified that the Great British Pound (GBP) is the strongest currency on the day traders table.
The Australian Dollar (AUD) is weakest topping the day traders table.
GBPAUD has broken through a key resistance level of 1.7500.
This level had been minor resistance since the end of January.
Price is trading in a larger trading range between the lows of 1.7250 and the highs of 1.8125.
If price trades higher we could expect to see it reach the range highs.
Price is also trading above the 200 daily moving average and trendline resistance.
Buyers should look for a pullback before getting long.
The 1.7500 resistance could turn into support.
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