GBPAUD Chart Technical Outlook there is scope for a correction to 1.9359, the medium-term bias remains to the upside. However, the intraday chart highlights scope for a move lower toward the 1.9358-1.9353 zone. We would then look for the completion of a bullish Bat formation and for buyers to return to this cross.
There is ample scope for a mild intraday rally as we correct higher within the BC leg.
It will be interesting to see where this cross stands in front of Friday’s UK gross domestic product release.
