GBPAUD bullish breakout, potential for further rise!

Price has shown a bullish breakout from the descending trendline resistance-turned-support, and is now holding above the moving average support as well. We could see a further rise above 1st support, in line with 50% Fibonacci retracement and horizontal overlap support, towards 1st resistance, in line with 78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal pullback resistance.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.