GBPAUD: Harmonic structure is active now!
After long time of consolidation, the GBPAUD pair has been able to take out the resistance line which meets the psychological level of 2.0000 as seen on the provided daily chart.
The pattern is very close to be a crab pattern according to the Fibonacci symmetry that dominated the GBPAUD movements since 12 February 2015.
Stability above Ribbons lines-EMA 21 to EMA 55- is another technical catalyst that argues us to be bullish on GBPAUD despite the trend exhaustion sign appearing on Know Sure Thing indicator.
The completion of the harmonic formation resides in the 2.0750 territories, while 1.9855 should hold to keep the scenario valid.