GBP/AUD Is Very Bullish

GBP/AUD has been rallying for a few days now, but after the last sharp move to the upside the pair finally found some resistance at 1.6550, where it formed a doji candlestick as well as a hanging man candlestick on the one-hour time-frame and started retracing to the downside. The pair will likely continue falling towards the closest support level, which is at 1.6460. That said, the overall trend remains very bullish, and if the pair breaks out above the last high at 1.6550 the move to the upside will likely continue towards the next target, which is very close at 1.6570 and coincides with the (MA)89 indicator on the daily time-frame.