GBPAUD

GBPAUD has broken into an uptrend and is still looking to make it's 2nd higher high. We are currently still consolidating between two support & resistance zones. There are two main possibilities I see can price doing this week.

First is that price respects the support zone and 200 EMA from here and stays in the consolidation zone.

Second is that price can break out of this consolidation zone and under the 200 EMA and head lower.