Currently, GBP/AUD is trading at 1.9584. The pair started a downtrend on 6 April and now consolidating in the descending triangle wedges . If the price breaks its support level at 1.9481, then it may touch its next support level at 1.9235. If the price breaks the resistance level at 1.9699, then it may touch its next resistance level at 2.0280.

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Rishikesh Lilawat

Rishikesh Lilawat
Rishikesh Lilawat

Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.