GBP/AUD May Bounce off from 1.7200

GBP/AUD has been testing the support at 1.7200, which coincides with the (MA)89 indicator on the daily time-frame, for a little less than two weeks and it may finally bounce off from that level considering the candlesticks the pair has formed on both the aforementioned daily time-frame and the weekly time-frame. Namely, there are a pair of inverted hammer candlesticks on the former and a hammer candlestick and an inverted hammer candlestick on the latter time-frame, all formed above the support at 1.7200. If the pair does bounce off from it, it will probably move to the upside towards 1.7400 and a breakout above that level could lead to a further move to the upside towards 1.7500.